Japan’s wholesale inflation accelerated in June at the fastest pace in more than three years.
The producer price index increased 7.1 percent in June from a year earlier, data showed on Friday.
This exceeded market forecasts for a 6.8 percent increase and marked the fastest year-on-year rise since March 2023. It accelerated from a revised 6.6 percent gain in May.
Japan imports most of its energy, making it particularly sensitive to swings in global fuel prices.
According to Japan’s Agency for Natural Resources and Energy, the country imports “almost all” of its fossil fuels from overseas and relies on the Middle East for more than 90 percent of its crude oil imports….
Japan’s Wholesale Inflation Hits 3-Year High
