Japan’s Corporate Service Inflation Accelerates in Oct – BOJ

Reuters file photo
Japanese national flag is hoisted atop the headquarters of Bank of Japan in Tokyo in September.

TOKYO, Nov 27 (Reuters) – Japan’s business-to-business service prices rose 2.3% in October from a year earlier, central bank data showed on Monday.

The year-on-year increase in the services producer price index accelerated from a revised 2.0% gain in September, Bank of Japan (BOJ) data showed.

Developments in services prices are closely watched by the BOJ for clues on whether cost-push inflation would be replaced by a more demand-driven rise in prices and keep inflation sustainably around its 2% target.