Wholesale Goods Inflation Accelerates in Japan

Forex - Japan's wholesale goods inflation accelerated in October, driven by a drop in the yen that raised import costs for certain goods, increasing uncertainty about when the Bank of Japan (BOJ) will raise interest rates. According to BOJ data, the corporate goods price index (CGPI), which measures the prices companies demand for goods and services from each other, rose by 3.4% in October compared to the previous year, exceeding market expectations of 3.0%. Prices had increased by 3.1% in September. According to the data, the yen-based import price index fell by 2.2% year-on-year last month, a smaller decline than September's 2.5% drop. On a monthly basis, the index rose by 3.0% after a 2.8% decrease in September.