Japan’s wholesale inflation was flat in December from a year ago, data showed on Tuesday, underscoring the central bank’s view that cost-push pressures from rising raw material prices will steadily dissipate.
The reading for the corporate goods price index (CGPI) compared with a median market forecast for a 0.3 per cent decrease and followed a 0.3 per cent increase in November.
The wholesale price data is among factors the Bank of Japan scrutinises in gauging trend inflation and deciding on the timing of exiting ultra-loose monetary policy. – Reuters
