June wholesale prices up 2.9 yryr, matching forecast
Wholesale price index renews record high for 7th month
Yenbased import prices in June rise 9.5 yryr
Data among factors BOJ will scrutinise at July 3031 meeting

TOKYO, July 10 Reuters Japan39;s wholesale inflation accelerated in June as the yen39;s declines pushed up the cost of raw material imports, data showed on Wednesday, keeping alive market expectations for a nearterm interest rate hike by the central bank.

Rising global commodity costs and a phaseout of gasoline and fuel subsidies also pushed up wholesale prices, the data showed, a sign of heightening inflationary pressure.

The data will be among factors the Bank of Japan BOJ will scrutinise at its next policy meeting on July 3031, when the board will release fresh growth forecasts and debate whether to raise interest rates from current nearzero levels.

The corporate goods price index CGPI, which measures the price companies charge each other for their goods and services, rose 2.9 in June from a year earlier, BOJ data showed, matching a median market forecast.

It accelerated from the previous month39;s revised 2.6 gain and rose at the fastest yearonyear pace since August 2023. The index, at 122.7, hit a record high for the seventh straight month.

The yenbased import price index climbed 9.5 in June from a year earlier, accelerating from a revised 7.1 rise in May, in a sign the weakening currency was inflating the price companies charge each other for…