Inflation as measured by Japan’s producer prices quickened in July, marking six consecutive months of acceleration, as the end of utility subsidies drove up energy costs.
The measure of input prices for firms gained 3.0% from a year earlier, the BOJ reported Tuesday. The gain was below economists’ expectations of a 3.1% increase. From the prior month, prices rose by 0.3%, matching the consensus estimate.
The report showed a 10.8% increase in yen-denominated costs for imported materials, in a reflection of the weak yen’s impact on inflation.
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