Japan's sharp wholesale price rise heaps pressure on BOJ's ultra-easy policy

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Japan's sharp wholesale price rise heaps pressure on BOJ's ultra-easy policy
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Japan's annual wholesale prices rose at a faster-than-expected pace in December, data showed on Monday, adding to recent growing signs of inflationary pressure that could force the central bank to raise interest rates soon.

The 10.2% year-on-year rise in the corporate goods price index , which measures the price companies charge each other for their goods and services, exceeded a median market forecast for a 9.5% gain, Bank of Japan data showed. It followed a revised 9.7% increase in November.

The yen-based import price index rose 22.8% in December from a year earlier, slowing from a revised 28.0% gain in November, in a sign the currency's recent sharp ascent helped temper the cost of importing fuel and raw material. "But such price pressure will gradually weaken with commodity inflation peaking out, and major economies likely to stagnate in the first half of this year," he said.

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