Key facts
- The 7.1% annual rise in the corporate goods price index followed a 6.8% increase in September.
- The median market forecast was for a 6.5% increase in October.
- The yen-based import price index rose 24.8% in October from a year earlier, the Bank of Japan said.
- The Bank of Japan will scrutinize the data at its next policy meeting on December 17 and 18.
Japan's corporate goods price index, which measures the prices companies charge each other for goods and services, rose 7.1% in the year to October, the Bank of Japan said on November 12. The increase was faster than a median market forecast of 6.5% and followed a 6.8% rise in September.
The yen-based import price index rose 24.8% in October from a year earlier, the Bank of Japan said, a sign that the currency's weakness continued to push up the cost of raw material imports.
The data will be among the factors the Bank of Japan will scrutinize at its next policy meeting on December 17 and 18. The central bank held its policy rate at 1.25% in an 8-1 vote on October 30, with board member Takata dissenting in favor of a hike to 1.5%, and raised its FY2027 inflation forecast to 2.6% from 2.4%.