Japan December wholesale prices rise more than expected

Japan December wholesale prices rise more than expected

By Leika Kihara

TOKYO (Reuters) – Japans wholesale prices rose a faster-than-expected 10.2% in December from a year earlier, data showed on Monday, adding to recent growing signs of inflationary pressure that could keep the central bank under pressure to raise interest rates.

The rise in the corporate goods price index (CGPI), which measures the price companies charge each other for their goods and services, exceeded a median market forecast for a 9.5% gain.

It followed a revised 9.7% increase in November, Bank of Japan (BOJ) data showed.

The yen-based import price index rose 22.8% in December from a year earlier, slowing from a revised 28.0% gain in November, in a sign the currencys recent sharp ascent helped reduce the cost of importing fuel and raw material.

(Reporting by Leika Kihara)

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