Japan's wholesale inflation accelerated to its fastest pace in more than three years in June, as companies continued to pass on higher input costs stemming from the conflict in the Middle East, strengthening the case for further interest rate increases by the Bank of Japan (BOJ), according to Reuters.
The producer price index (PPI) climbed 7.1% in June from a year earlier, exceeding the median market forecast of a 6.8% increase and marking the strongest annual rise since March 2023, BOJ data showed. The reading also accelerated from a revised 6.6% increase recorded in May.
