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Japan's wholesale prices jump by record 10% as energy costs soar

Baku, May 16, AZERTAC

Japan’s wholesale prices in April jumped 10% from the same month a year earlier, data showed on Monday, rising at a record rate as the Ukraine crisis and a weak yen pushed up the cost of energy and raw materials, according to the Japan Times.

The surge in the corporate goods price index (CGPI), which measures the price companies charge each other for their goods and services, marked the fastest year-on-year rise in a single month since comparable data became available in 1981.

The gain followed a revised 9.7% increase in March, and was higher than a median market forecast for a 9.4% increase.

Unlike other central banks worried about surging inflation, the Bank of Japan (BOJ) has kept its ultraeasy monetary policy in place on the view that the cost-push rise in inflation is not bringing long-term price expectations to its 2% target.

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