TOKYO: Japan's wholesale inflation accelerated in June at the fastest pace in more than three years and the government brushed aside market concern over political interference in monetary policy, bolstering the case for further interest rate hikes.
The producer price index surged 7.1% in June from a year earlier, data showed on Friday, exceeding market forecasts for a 6.8% increase and marking the fastest year-on-year rise since March 2023. It accelerated from a revised 6.6% gain in May.
