Japan Wholesale Inflation Slows to 0.8%, Lowest in Over 2 Years as Cost Pressures Fade
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Wholesale inflation in Japan slowed to 0.8% in October, the lowest rate in over 2 years.
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The slowing of wholesale inflation indicates fading cost pressures for goods.
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Declining prices for wood, chemicals, and steel contributed to the drop in wholesale inflation.
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Higher wholesale costs have led firms to pass on price hikes to consumers, pushing up overall inflation.
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The Bank of Japan says cost-push inflation must shift to wage/demand-driven inflation before considering higher rates.