Japan: Wholesale prices log fastest rise in over 3 yrs, up 7.1 pct in June.

Shotlist Tokyo, Japan - Date Unknown (CCTV - No access Chinese mainland) 1. Japanese national flag 2. Building of Bank of Japan Tokyo, Japan - June 16, 2022 (CGTN - No access Chinese mainland) 3. Sign of Bank of Japan Tokyo, Japan - Exact Date Unknown (CCTV - No access Chinese mainland) 4. Various of Japanese yen banknotes going through bill counter 5. Various of Japanese yen banknotes Japan - Exact Location and Date Unknown (CCTV - No access Chinese mainland) 6. Various of oil storage tanks along coast 7. Various of gas station, worker refueling car 8. Meter showing amount of petrol Osaka, Japan - March 26, 2022 (CCTV - No access Chinese mainland) 9. Various of man refueling car Tokyo, Japan - Aug 24, 2021 (CGTN - No access Chinese mainland) 10. Various of pedestrians, traffic Tokyo, Japan - Date Unknown (CCTV - No access Chinese mainland) 11. Various of city view, traffic Storyline Japan's wholesale prices jumped 7.1 percent year on year in June, marking the sharpest rise in more than three years, the Bank of Japan said Friday. The increase in goods prices traded between companies accelerated from a revised 6.6 percent gain in May, the fastest since March 2023, underscoring mounting inflationary pressure in the resource-poor country, which relies heavily on imports of oil and other petroleum products from the Middle East. Nonferrous metals, petroleum and coal products were among the categories posting the largest year-on-year price hikes. The data came as the Bank of Japan weighs the appropriate timing to raise its key policy interest rate further to sustainably achieve its 2 percent inflation target, after lifting the rate to a 31-year high of 1.0 percent in June. Meanwhile, import prices soared 29.7 percent from a year earlier, while export prices rose 20.7 percent.