Japan Wholesale Inflation Hits 7.6% Amid Weakening Yen

Japan's wholesale inflation rose to 7.6% in August, exceeding market expectations of 7.4%, according to data from the Bank of Japan reported by Channel NewsAsia.

The producer price index, which measures the cost of goods and services at the wholesale level, increased year-over-year for the second month in a row, but fell by 0.2% from July's revised growth of 0.4%.

The yen-based import price index rose by 24.8% in August compared to last year, with imports becoming more expensive due to the weakening yen and rising fuel costs caused by the conflict in the Middle East.

Bank of Japan Governor Kazuo Ueda is closely monitoring wholesale inflation, assessing how much companies can pass on increased costs to households.