Japan April wholesale inflation steady as weak yen boosts import costs

By Thomson Reuters May 13, 2024 | 7:15 PM

TOKYO (Reuters) – Japan’s wholesale prices rose 0.9% in April from a year earlier, steady from the previous month as the yen’s decline pushed up import costs, central bank data showed on Tuesday.

The rise in the corporate goods price index (CGPI), which measures the price companies charge each other for their goods and services, compared with the median market forecast for a 0.8% gain and followed a 0.9% increase in March.

The yen-based import goods price index jumped 6.4% in April from a year earlier after a 1.4% increase in March, reflecting the currency’s recent sharp declines, the data showed.

(Reporting by Leika Kihara; Editing by Tom Hogue)