Japan Wholesale Inflation Hits 7.1% in October as BOJ Nears 1.5% Rate Decision
Updated
Updated · Reuters · Nov 12
Japan Wholesale Inflation Hits 7.1% in October as BOJ Nears 1.5% Rate Decision
3 articles · Updated · Reuters · Nov 12
Summary
Japan’s corporate goods price index rose 7.1% in October from a year earlier, beating a 6.5% forecast and quickening from September’s 6.8%.
Fuel, chemical and semiconductor costs drove the pickup as Middle East tensions lifted oil-linked prices and AI-related demand pushed up chip prices; yen-based import prices jumped 24.8%.
Petroleum and coal prices climbed 15.9% and chemical goods 15.5%, while transportation equipment prices rose 3.2% as firms kept passing through labor and raw-material costs.
The data will feed into the BOJ’s Dec. 17-18 meeting, where many analysts expect a rate increase to 1.5% from 1.25% after the bank signaled upside inflation risks last month.