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Japan wholesale prices continue to surge as import costs hit record
Japanese wholesale prices continued to surge in June as import costs spiked at the fastest pace on record, data showed on Monday, a sign rising raw material costs were weighing on corporate profits. Households may also start to feel the pinch as recent increases in oil costs are likely to push up consumer inflation in coming months, though the rebound will be more modest in Japan than in other advanced nations due to weak demand, analysts say. The corporate goods price index (CGPI), which measures the price companies charge each other for their goods and services, rose 5.0% in June from a year earlier, Bank of Japan ... (full story)