Recent data released indicates that Japan's wholesale price index has decelerated for the third straight month in June, aligning with the Bank of Japan's outlook that price pressures from rising raw material costs will gradually ease. The Bank of Japan's figures show that the Corporate Goods Price Index (CGPI) rose by 2.9% year-on-year in June, matching the median market forecast but falling short of the revised 3.3% increase in May. This index tracks the prices businesses charge each other for goods and services.
The import price index, measured in yen, saw a significant drop of 12.3% in June compared to the same period last year, following a 10.3% decline in May. This decrease suggests that the yen's appreciation is helping to reduce the costs of importing raw materials.
