Japan's producer prices rose 0.2% in October, driven by higher agricultural costs, especially rice.

Japan's producer prices rose by 0.2% in October, exceeding expectations and marking a year-on-year increase of 3.4%. This rise, primarily due to higher agricultural prices, especially rice, could impact the Consumer Price Index. Despite inflation staying above the Bank of Japan's 2% target since April 2022, the bank is cautious about raising interest rates due to political pressures and preferences for wage-driven inflation.

November 13, 2024
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