Wholesale prices surge 7.3% in FY 2021, fastest pace on record

Politics Economy

Wholesale prices in the year to March jumped 7.3 percent from a year earlier, the fastest pace on record, driven by surging crude oil and commodity prices as well as a weak yen, Bank of Japan data showed Tuesday. The record rise since comparable data became available in 1981 came after a 1.4 percent fall in fiscal 2020, highlighting that fluctuations in commodity prices have a strong bearing on Japan, a major energy importer. The depreciation of the yen boosted import prices for Japan by 32.7 percent from a year earlier. The figure compared with a 12.3 percent rise in export prices. Both numbe...

Kyodo News

Kyodo News