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Japan wholesale inflation accelerates, keeps alive BOJ rate-hike view

Reuters
Japan wholesale inflation accelerates, keeps alive BOJ rate-hike view

By Leika Kihara

TOKYO, ‌Nov 12 (Reuters) - Japan's wholesale prices rose 7.1% in ​the ‌year to October, data showed ‌on Thursday, accelerating from the previous month and 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.

The ​rise in the corporate goods price index, which measures ​the price companies charge ​each ‌other for their goods and services, ​was faster than a ⁠median market forecast for ‌a 6.5% ​increase. It followed ​a 6.8% increase in September.

The yen-based import price index rose 24.8% in October from a ‌year earlier, the data released by the BOJ showed, a ‌sign ​that the currency's weakness continued to push up the cost of raw material imports.

(Reporting by Leika ‌Kihara; Editing by Sam Holmes)