Japan's wholesale prices rose 9.0% in August from the previous year, matching the annual pace of growth in July, data showed on Tuesday, signalling that persistently high raw material costs continued to squeeze corporate margins.
The rise in the corporate goods price index , which measures the price companies charge each other for their goods and services, was largely in line with a median market forecast for a 8.9% increase, Bank of Japan data showed.
Reflecting easing input pressure, however, wholesale prices rose just 0.2% in August from the previous month, slower than a revised 0.7% month-on-month increase marked in July. A weak yen has inflated the cost of importing already rising prices of raw material goods, weighing on corporate profits and forcing a growing number of firms to hike prices.
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