emirates7 - Japan’s annual wholesale inflation eased for the fourth consecutive month in July, according to data released Wednesday, reinforcing the central bank’s outlook that price pressures from raw material costs are gradually fading.
The corporate goods price index (CGPI) — which tracks the prices companies charge each other for goods and services — rose 2.6% in July from a year earlier, down from a 2.9% gain in June. This was slightly above the median market estimate of a 2.5% increase.
The Bank of Japan (BOJ) data also showed that the yen-based import price index dropped 10.4% year-on-year in July, after a revised 12.2% decline in June.
By category, prices of chemical and steel products decreased, while food and beverage prices climbed 4.2% compared to July last year.
The corporate goods price index (CGPI) — which tracks the prices companies charge each other for goods and services — rose 2.6% in July from a year earlier, down from a 2.9% gain in June. This was slightly above the median market estimate of a 2.5% increase.
The Bank of Japan (BOJ) data also showed that the yen-based import price index dropped 10.4% year-on-year in July, after a revised 12.2% decline in June.
By category, prices of chemical and steel products decreased, while food and beverage prices climbed 4.2% compared to July last year.