May wholesale prices rise 2.4 yryr vs forecast 2.0
Yenbased import goods prices accelerate pace of gain
Renewed cost pressure may cool consumption, economy
Data comes ahead of BOJ meeting, rates seen on hold

TOKYO, June 12 Reuters Japan39;s wholesale inflation jumped in May at the fastest annual pace in nine months, data showed on Wednesday, a sign the weak yen was adding upward pressure on prices by pushing up the cost of raw material imports.

The data complicates the Bank of Japan39;s decision on how soon to raise interest rates, as price rises driven by cost pressures could cool consumption and dampen the chances of achieving the kind of demanddriven inflation it wants to see before further phasing out stimulus, analysts say.

Consumer inflation may not slow much as wholesale price rises reaccelerate, and energy prices are seen rising sharply towards this summer as government subsidies to curb utility bills end in June, said Takeshi Minami, chief economist at Norinchukin Research.

But the BOJ will need to wait for wages to rise and help consumption recover before raising rates again, he added.

The corporate goods price index CGPI, which measures the price companies charge each other for their goods and services, rose 2.4 in May from a year earlier, BOJ data showed, exceeded a median market forecast for a 2.0 gain.

It followed a 1.1 gain in April, accelerating for a fourth straight month, with the increase driven by higher prices for utilities, petroleum and…