Japan July wholesale prices rise 2.6 pct yr/yr
2.6 per cent in the year to July, Bank of Japan
data showed on Wednesday.
The rise in the corporate goods price index (CGPI), which measures the price companies charge each
other for their goods and services, compares with the median market forecast for a 2.5 per cent annual
increase and
follows a 2.9 per cent annual increase in June.
Details were as follows (preliminary, with percentage change; economists' median forecast in parentheses;
previous figures may be revised):
JULY JUNE MAY JULY INDEX
Year-on-year +2.6 (+2.5) +2.9 +3.3 +126.6
Mth-on-mth +0.2 (+0.2) -0.1 -0.1
To view the full tables, go to
http://www.boj.or.jp/en/statistics/pi/cgpi_release/index.htm/
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
CNA
an hour ago
- CNA
Pakistan finance minister eyes cut to key policy rate from 11%
ISLAMABAD :Pakistan's finance minister said on Wednesday that there was more room for the central bank to cut the country's key policy rate down from 11 per cent. "We are hopeful of progress in terms of the policy rate going south," Mohammed Aurangzeb said at an event in Islamabad. The next policy rate announcement is due on September 15, according to the State Bank of Pakistan's calendar. The central bank left its key interest rate unchanged at 11 per cent on July 30, going against analyst expectations. In a Reuters poll ahead of the policy rate announcement, all 15 analysts said they expected the bank to ease, with nine forecasting a 50 basis-point cut, four predicting a deeper 100 basis-point reduction and two projecting a smaller 25 basis-point cut.
CNA
an hour ago
- CNA
World shares hit record as rate hopes, inflation data buoy sentiment
LONDON/TOKYO :Global share markets hit a record and the dollar was subdued on Wednesday, as investors cheered mild inflation data and signs of resilience in major economies, and expectations of a U.S. rate buoyed demand for riskier assets. The MSCI All Country World Index of shares climbed for a second day and reached 950.13, an all-time high. Japan's Nikkei stock index, meanwhile, set a fresh peak for a second-straight session. European stocks advanced 0.5 per cent, with German shares adding 0.6 per cent. Tech and defence stocks led the gains. U.S. inflation readings, which on Tuesday showed the consumer price index (CPI) rising slightly less than forecast in the year through July, indicated President Donald Trump's import tariffs had yet to filter down to consumer prices. That helped Wall Street scale new heights, supported by increasing certainty that the Federal Reserve will cut interest rates next month. "The fact that CPI was broadly as expected was met with relief, leading to equity gains and tighter credit spreads as investors became increasingly confident about another rate cut," Deutsche Bank analysts wrote. Trump's signing of an executive order pausing triple-digit levies on Chinese imports for another 90 days also boosted optimism. Wall Street was also set for gains, with a gauge of S&P 500 futures up 0.7 per cent. In Japan, a Reuters poll that tracks the Bank of Japan's quarterly tankan business survey showed the Japanese manufacturers' sentiment index improved for a second straight month. Another report showed Japan's wholesale inflation slowed in July, underscoring the central bank's view that upward price pressure from raw material costs will ease. The Nikkei rose for the sixth straight day, breaking the 43,000 level for the first time and hitting a fresh record high. Risk-sensitive cryptocurrency ether rose to an almost four-year high above $4,679. FED CUT The dollar index, which tracks the greenback against a basket of major peers, fell for a second day. It was last down 0.2 per cent at 97.80 The dollar fell 0.2 per cent against the yen to 147.47. The euro added 0.3 per cent to $1.1706, after a 0.5 per cent jump in the previous session. Traders are pricing in a 94 per cent chance of a Fed cut in September, up from about 57 per cent a month ago, according to the CME FedWatch tool. Investors had been on tenterhooks about the inflation data because it followed a surprisingly weak jobs report on August 1 and had the potential to stoke concerns about stagflation - when an economy suffers both high inflation and high unemployment. Trump has nominated White House adviser Stephen Miran to temporarily fill a vacant board seat at the U.S. central bank, stirring up speculation about presidential interference in monetary policy. And the White House said it was "the plan" that the Bureau of Labor Statistics would continue to publish its closely watched monthly employment report after Trump's pick to head the agency, E.J. Antoni, proposed suspending its release. Speculation the labour report would be halted has "done the USD no favours and would have only incentivised foreign investors to review their hedging ratios on U.S. investments," Chris Weston, head of research at Pepperstone, said in a note. In sovereign bond markets, German 30-year bond yields fell on Wednesday, retreating from the previous day's 14-year high.
CNA
an hour ago
- CNA
Thai central bank cuts rates to lowest in two years to support growth
BANGKOK : Thailand's central bank lowered its policy rate by a quarter point on Wednesday, its fourth cut in 10 months, to support a sluggish economy grappling with falling prices, the impact of U.S. tariffs and a decline in foreign tourists. The monetary committee unanimously voted to cut the one-day repurchase rate by 25 basis points to 1.50 per cent, the lowest in more than two years. The economy was expected to expand this year and next, close to earlier assessments, but U.S. trade policies would exacerbate structural problems and weaken competitiveness, with small businesses vulnerable, the central bank said in a statement. "Going forward, the economy is expected to slow down in the second half of the year due to U.S. trade policies, both directly and indirectly, and a decline in short-haul tourist arrivals as a result of intensified regional competition," it said, adding that private consumption and small businesses would be hit. "The committee views that monetary policy should be accommodative going forward to support the economy," it added. The central bank said it expects growth in Southeast Asia's second-largest economy to slow in the second half of the year. The baht reversed course to fall 0.1 per cent after the announcement, while Thai stocks were largely unchanged after rising 1.10 per cent in morning trading. The economy has struggled with weak consumption, high household debt, slowing tourism, trade uncertainty and U.S. tariffs. The central bank has said the economy might have grown about 3 per cent annually in the second quarter of 2025 but would feel the impact of U.S. tariffs and weakening consumption later this year. Wednesday's meeting was the last for Governor Sethaput Suthiwartnarueput. New Governor Vitai Ratanakorn will take over on October 1, and he has said rate cuts will support growth. The next policy review will be on October 8. In June, the BOT predicted 2025 economic growth of 2.3 per cent, with export growth of 4 per cent, after factoring in U.S. tariff rates of 18 per cent. The economy expanded 2.5 per cent last year, lagging peers. Last month, the United States reduced its tariff rate to 19 per cent on imported goods from Thailand, down from the initial 36 per cent level and more aligned with other countries in the region. There are still uncertainties relating to U.S. tariffs on transshipments via Thailand from third countries. There are still uncertainties relating to U.S. tariffs on transshipments via Thailand from third countries. The United States was Thailand's biggest export market last year, accounting for 18.3 per cent of total shipments, with a value of $55 billion. Consumer prices in July fell 0.7 per cent from a year earlier, down for a fourth consecutive month, and below the central bank's target range of 1 per cent to 3 per cent for the fifth consecutive month. Headline inflation was subdued because of supply side factors including low food prices from favourable weather conditions and downward trends in energy prices, the BOT said. Price decline was not widespread as core inflation remained stable and near previous assessments, it said. In June, the central bank predicted headline inflation of 0.5 per cent this year, with the core rate seen at 1 per cent.
