Japan’s wholesale inflation accelerated at its fastest pace in nearly three years in April, strengthening expectations that the central bank could move ahead with an interest rate hike as early as June. Rising energy and commodity prices linked to the ongoing Iran conflict have intensified inflationary pressures across the economy.
The latest data from the Bank of Japan showed the corporate goods price index (CGPI), which tracks prices that companies charge each other for goods and services, climbed 4.9% year-on-year in April. The increase was significantly above market expectations of a 3% rise and marked the strongest annual gain since May 2023.
