Japan’s producer price index rose 7.1% year over year in June
Japan’s producer prices increased 7.1% year over year in June, exceeding the 6.8% forecast.
The rise was driven by higher oil, petrol, electricity, and plastics costs.
Firms are passing higher costs to customers, indicating inflation expectations are taking hold.
The yen’s weak position near a 40-year low against the dollar adds to upward price pressure.