Wholesale prices surge 9.1% in May, weak yen boosts import costs

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Kyodo News

Wholesale price inflation accelerated in May to 9.1 percent from a year earlier, reflecting higher raw material prices and sharp declines in the yen that boosted import costs at the fastest pace, Bank of Japan data showed Friday. The prices of goods traded between companies marked the 15th straight month of increase, raising the likelihood of higher consumer prices that could hurt private consumption at a time when the economy has yet to fully recover from its pandemic malaise. The 9.1 percent gain in wholesale prices follows a revised 9.8 percent rise in April, the fastest pace on record. The…

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