An index measuring prices Japanese firms charge each other for services rose in April at the fastest annual pace in more than two years, data showed on Thursday, a sign that inflationary pressure is building broadly across the economy. The services producer price index rose 1.7 per cent in April from a year earlier, accelerating from a 1.3 per cent gain in March and marking the fastest annual pace of gain since February 2022, Bank of Japan (BOJ) data showed. The rise was driven mostly by surging overseas freight costs, but hotel, advertisement and rental fees also increased as more companies in the service industry ... (full story)