Japan wholesale inflation accelerates, keeps alive rate hike view
Executive Brief • Key Highlights
Fast factual intelligence distilled for busy investors, executives, and answer bots:
- ✓Japan’s annual wholesale inflation accelerated in October as fuel and semiconductor costs rose.
- ✓Data showed prices jumped 7.1% over the year, keeping market hopes alive for a near-term interest rate hike.
- ✓The Bank of Japan will study these figures at its policy meeting on December 17 and 18.
Story at a Glance
- Category
- Indian Markets
- Reported By
- Reuters
- Reading Speed
- 3 Minute(s)
- Market Focus
- India Economy
TOKYO, Nov 12 (Reuters) - Japan's annual wholesale inflation re-accelerated in October as the Middle East conflict and AI-related demand kept pushing up prices for fuel and semiconductor chips, data showed, keeping alive market expectations of a near-term interest rate hike.
The data will be among the factors the Bank of Japan will scrutinise at its next policy meeting on December 17 and 18, when many analysts expect the central bank to raise its policy rate to 1.5% from 1.25%.
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"Wholesale inflation is likely to accelerate due to lingering uncertainty over the Middle East conflict, with a wide range of goods seen coming under upward price pressure," said Masato Koike, senior economist at Sompo Institute Plus.
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Reuters
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