Japan July Services Inflation Rises to 3.6 Percent
Japan's corporate services inflation accelerated to 3.6 percent in July from a year earlier. The Bank of Japan data reinforces views that a tight labor market is driving firms to pass on costs. This adds to signs of broadening price pressures supporting a near-term rate hike.
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Japan's corporate services inflation rose 3.6% in July from a year earlier, driven by a tight labor market pushing firms to pass costs onto consumers. The increase followed a revised 3.4% gain in June, according to Bank of Japan data released on Wednesday morning. The data strengthens expectations for a near-term interest rate hike.
