JPY Service Sector Inflation Accelerates to 3.6%

The Services Producer Price Index in Japan rose 3.6 percent in July from the same period last year, according to data released by the Bank of Japan.

This increase follows a revised 3.4 percent gain in June and suggests that companies are passing on rising costs to consumers due to a tight labor market.

The core consumer inflation rate also accelerated in July, with the Consumer Price Index (CPI) increasing by 3.5 percent over the past year.