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Japan's wholesale prices rise by record 10% as energy costs soar
CGTN
A shopping district amid the COVID-19 pandemic in Tokyo, Japan, February 15, 2022. /CFP

A shopping district amid the COVID-19 pandemic in Tokyo, Japan, February 15, 2022. /CFP

Japan's wholesale prices in April jumped by 10 percent from a year earlier, data showed on Monday, rising at a record rate as the Ukraine crisis and a weak yen pushed up the cost of energy and raw materials.

The surge in the corporate goods price index, which measures the price companies charge each other for their goods and services, marked the fastest year-on-year rise in a single month since comparable data became available in 1981.

The gain followed a revised 9.7-percent increase in March, higher than a median market forecast of a 9.4-percent rise.

Japanese firms have been slow in passing on rising costs to households as soft wage growth does little to help consumer sentiment and makes them cautious about scaring off consumers with price hikes.

(With input from Reuters)

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