Japan’s wholesale inflation slows in December

[TOKYO] Japan’s wholesale inflation slowed in the year to December on sliding fuel costs, data showed on Thursday, a sign falling crude oil prices were offering some relief to companies facing rising labour and other raw material costs.

The corporate goods price index (CGPI), which measures the prices companies charge each other for their goods and services, rose 2.4 per cent in December from a year earlier, Bank of Japan (BOJ) data showed, matching a median market forecast.

It slowed from a 2.7 per cent annual increase in November.

An index measuring yen-based import prices was unchanged from year-before levels in December after a revised 1.7 per cent drop in November, the data showed, highlighting renewed upward price pressure from the weak yen.

The data will be among factors the BOJ scrutinises in its quarterly review of its growth and inflation forecasts at the next policy meeting on Jan 22-23. REUTERS