Japan’s producer price index climbed 7.1% in June compared to the same period a year ago, surpassing what market analysts had anticipated and marking an acceleration from the previous month’s revised figure of 6.6%.
Economists had forecast a 6.8% increase, but the actual numbers came in higher, reflecting intensifying inflationary pressure stemming from the energy disruption linked to the ongoing Middle East conflict.
Adding to the strain, Japan’s yen-based import price index jumped 29.7% year-over-year in June — a sharp acceleration from a revised 26.1% gain recorded in May. The data was published Friday by the Bank of Japan.
