Wholesale prices in Japan gained 10.2 percent in December, marking double-digit growth year over year again, as a weaker yen continued to inflate import costs of raw materials, Bank of Japan data showed Monday.
It was the 22nd straight month of year-on-year rises in the prices of goods traded between companies. Wholesale prices jumped a record 10.3 percent in September when the yen tumbled against the U.S. dollar, prompting Japanese authorities to intervene in the market to prop up the currency.
For 2022, wholesale prices surged 9.7 percent, twice as fast as in 2021 when they rose 4.6 percent, underscoring the vulnerability of resource-scarce Japan.
Import prices jumped 22.8 percent from a year ago in December while export prices gained 12.1 percent, both in yen terms.
