Japan wholesale inflation jumps to 4.9% as import costs surge

According to a Bank of Japan (BOJ) report issued Friday May 15, Japan’s wholesale prices jumped 4.9% year-on-year in April. This number exceeds the 3.0% gain economists had forecast and nearly doubled March’s revised 2.9%, as the Iran conflict drove a sharp rise in oil and petrochemical import costs, Reuters reported. The corporate goods price...