Japan Wholesale Inflation Eases to 7.2%

Japan's wholesale inflation eased slightly to 7.2% in July, missing analyst expectations of 7.4%, according to official data released Thursday.

The producer price index (PPI) reading was down from a revised 7.3% in June and marks the second consecutive month that the figure has declined.

Electricity prices were the largest contributor to the PPI increase, adding 0.23 percentage points to the total, while energy and chemicals prices dropped.

The yen's weakness continues to push up import costs, with the yen-based import price index climbing 29.1% in July, down from a 30.1% rise in June.