The producer price index in Japan increased at the fastest pace since early 2023.

In June, the rate of increase in corporate commodity prices in Japan reached the fastest level since early 2023, further proving the continuous rise in inflation pressure, which supports the reason for the Bank of Japan to continue hiking interest rates. The Bank of Japan released data on Friday showing that the corporate goods price index, reflecting corporate procurement costs, rose by 7.1% year-on-year in June, with the May year-on-year increase data also being revised upwards; after adjusting the May month-on-month value, the June price increased by 0.4% month-on-month.