Japan wholesale inflation steady near 4%, keeps alive BOJ rate-hike chance

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Japan wholesale inflation steady near 4%, keeps alive BOJ rate-hike chance - Channel News Asia

Quick Summary:

TOKYO :Japan's annual wholesale inflation held steady at 3.8 per cent in December on stubbornly high food costs, data showed on Thursday, highlighting persistent price pressures that may prod the central bank to raise interest rates next week.

Core consumer inflation, which the BOJ bases its monetary policy decisions, hit 2.7 per cent in November as rising food and fuel costs hit households.

"Wholesale inflation remains under strong upward pressure," said Takeshi Minami, chief economist at Norinchukin Research Institute, adding that Trump's tariff, immigration and energy policies could affect Japan's monetary policy including through exchange-rate moves.