Japan's wholesale inflation accelerated in June due to weakened yen, causing higher import costs.

Japan's wholesale inflation accelerated in June due to a weakened yen, causing higher import costs. The corporate goods price index rose 2.9% year-on-year, with the yen-based import price index climbing 9.5% year-over-year. This accelerated inflation may pressure the Bank of Japan to raise interest rates from near-zero levels, as market expectations for a near-term interest rate hike increase.