Japan's rising wholesale inflation heightens uncertainty on BOJ's rate hike timing
The corporate goods price index (CGPI), which measures the price that companies charge each other for goods and services, rose 3.4% in October from a year earlier, Bank of Japan data showed, above market forecasts for a 3.0% gain.
It followed a 3.1% increase in September.
The yen-based import price index fell 2.2% year-on-year last month, less than the 2.5% drop in September, the data showed. On a month-on-month basis, the index rose 3.0% after falling 2.8% in September.
A spike in the price of rice, coupled with the increasing cost of nonferrous metals, food and oil, pushed up overall wholesale inflation, the data showed, a sign companies remained under pressure from rising raw material costs.
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