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Masato Higashi - 1 Leika - 1 Shri Navaratnam - 1
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☆ Japan's wholesale inflation slows for 6th straight month
  + stars: | 2023-07-12 | by ( Leika Kihara | ) www.reuters.com   time to read: +2 min
Summary Wholesale prices rise at slowest annual pace since April 2021Rise in utility bills, food prices moderatesYen-based import prices fall at fastest pace since July 2020TOKYO, July 12 (Reuters) - Japan's wholesale inflation slowed for a sixth straight month in June due to sliding fuel and commodity prices, data showed on Wednesday, a sign the cost-push pressure that drove up consumer prices is steadily easing. The data underscores the central bank's view that consumer inflation will slow in coming months as global commodity prices slide from last year's peak levels. But the pace appears to be moderating," Masato Higashi, head of the Bank of Japan's price statistics division, told a briefing. The rise, which followed a 5.2% gain in May, was the slowest annual pace since April 2021, data by the BOJ showed. Food and beverage prices increased 7.4% in June, smaller than a 8.0% gain in May, the data showed.
Persons: Masato Higashi, Leika, Shri Navaratnam Organizations: Bank of, Thomson Locations: TOKYO
☆ Japan's business services prices perk up near BOJ's inflation target
  + stars: | 2023-03-27 | by ( Leika Kihara | ) www.reuters.com   time to read: +2 min
TOKYO, March 27 (Reuters) - Japan's business-to-business services inflation picked up in February on a tourism rebound and rising labour costs, data showed, offering the central bank hope that steady wage hikes would aid in sustainably hitting its 2% inflation target. The services producer price index, which measures the prices companies charge each other for services, rose 1.8% in February from a year earlier, up from a 1.6% gain in January, BOJ data showed on Monday. Fees for services such as office cleaning, taxi and software development also rose, reflecting higher labour costs. "For services, the pass-through of rising costs isn't as smooth as those for wholesale goods," said Masato Higashi, head of the BOJ's price statistics division, told a briefing. "But when you look closely, the pass-through (of higher labour costs) is gradually broadening," he said.
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