Japan Wholesale Inflation Slows Sharply in November on Easing Cost Pressure

Reuters file photo
Japanese national flag is hoisted atop the headquarters of Bank of Japan in Tokyo, Japan September 20, 2023.

TOKYO, Dec 12 (Reuters) – Japan’s wholesale prices rose 0.3% in November from a year earlier, data showed on Tuesday, slowing sharply from the previous month in a sign of easing cost-push pressure in the world’s third-largest economy.

The rise in the corporate goods price index (CGPI), which measures the prices companies charge each other for their goods and services, compared with the median market forecast for a 0.1% increase and followed a 0.9% gain in October.

The data underscored the Bank of Japan’s view that wholesale inflation will continue to slow on falling commodity prices and the base effect of last year’s sharp rise in fuel costs.