TOKYO — Japan's wholesale inflation accelerated for three straight months as companies continued to pass on rising raw material and labor costs, data showed on Wednesday, keeping the central bank under pressure to raise interest rates again.
TOKYO — Japan's wholesale inflation accelerated for three straight months as companies continued to pass on rising raw material and labor costs, data showed on Wednesday, keeping the central bank under pressure to raise interest rates again.The data for November comes ahead of the Bank of Japan's two-day policy meeting ending on Dec. 19, when some analysts expect it to raise short-term interest rates from the current 0.25 percent.
1-percent gain in October, due largely to the soaring price of rice, the data showed.The yen-based import price index fell 1.2 percent in November, slower than a 2.2-percent drop in October, a sign the currency's rebound has not been strong enough to significantly push down the cost of importing raw material.While the yen is off a three-decade low near 162 to the dollar hit in July, it has weakened to around 152 recently after touching a high near 141 in mid-September.
Wholesale Inflation Accelerates
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