Japan Services Inflation Rises 3.7 Percent
Japan annual corporate services inflation accelerated to 3.7 percent in September. The gain reflects mounting labor cost pressures. This trend supports expectations for further central bank interest rate hikes.
Japan's services producer price index rose 3.7% in September from a year earlier, driven by persistent labour cost pressures. The increase followed a revised 3.5% gain in August, data from the Bank of Japan showed on Tuesday. The accelerating services inflation reinforces expectations that the central bank will continue raising borrowing costs.
