Indicators
Japan Business Service Prices Jump, Backing Case for Rate Hike
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Service prices among businesses in Japan jumped by the most in about 33 years, adding to the list of supporting factors for the central bank to raise interest rates, with a policy meeting looming next week.
The cost of services among companies climbed 3% in June, the biggest gain since September 1991 excluding the impact of sales tax hikes, according to a BOJ report Thursday. The result came in hotter than economists’ estimate of 2.6%.