TOKYO, July 5 Reuters Japan39;s wholesale prices likely accelerated in June, a Reuters poll showed on Friday, reflecting a mix of a weak yen, higher commodity import bills and rising transportation costs piling up costpush inflation pressures on the tradereliant economy.
Separate data next week is expected to show core machinery orders rebounded in May from the previous month, according to the poll, which would be a source of relief for policymakers worried about the outlook for capital expenditure.
Japan39;s corporate goods price index CGPI, a gauge of prices that firms charge each other, likely rose 2.9 in June from a year earlier, and accelerated from the prior month39;s 2.4, the poll of 17 economists showed.
Inflation data will be scrutinised by the central bank, which in March raised interest rates for the first time since 2007, and decided last month to reduce its government debt buying as a step towards normalising monetary policy.
On top of the yen weakening, crude oil and other commodity prices have rebounded early in spring, which will now heap upward pressure on import prices, spilling over energy and materialsrelated industrial products as well, said Takeshi Minami, chief economist at Norinchukin Research Institute.
Restrictions on logistics caused by the Middle East crisis and domestic curbs on working hours for truck drivers are also driving up the costs of transportation, Minami said.
Core machinery orders, a leading indicator of capital…