Japan wholesale prices rise at fastest pace

Japanese wholesale prices rose at the fastest annual pace in nearly nine years last month as robust Chinese demand boosted commodity prices, offering glimmers of hope consumer inflation will accelerate towards the central bank’s two per cent target. But some analysts warn the pick-up in wholesale inflation won’t be strong enough to nudge companies into boosting retail goods prices. “Inflationary pressure remains weak for items like machinery,” said Mizuho Securities senior market economist Toru Suehiro.