Japan's wholesale prices rose 2.7 percent in November from a year earlier for the eighth straight month of increase and the biggest gain in five years, as a weaker yen and higher energy prices led to rises in a wide range of items, the Bank of Japan said Wednesday.
The index of corporate goods prices stood at 102.6 against the 2010 base of 100, the central bank said in a preliminary report. The year-on-year rise of 2.7 percent, which followed a 2.5 percent gain in October, was the highest since October 2008, according to the BOJ.Due to the yen's depreciation and rising energy prices, electricity, gas and water bills grew 10.8 percent, lifting wholesale prices. Iron and steel prices rose 4.4 percent as manufacturers factored in rising energy and material prices into product prices, a BOJ official said.
Source: NewsOnJapan
Source: NewsOnJapan
