TOKYO, Aug 13 Reuters Japan39;s wholesale inflation accelerated in July, with the pace of yearonyear growth the fastest in 11 months, data showed on Tuesday, as a weak yen pushed up commodity import bills that were already high.

The corporate goods price index CGPI, which measures the price companies charge each other for goods and services, rose 3 in July from a year earlier, Bank of Japan data showed, matching a median market forecast.

The index, at 123.1, hit a record high for the eighth straight month. It accelerated from June39;s 2.9 increase.

Inflation data will be scrutinised by the central bank, which raised interest rates on July 31 to levels unseen in 15 years and signalled its readiness to hike borrowing costs further.

The yenbased import price index climbed 10.8 in July from a year earlier, accelerating from a revised 10.6 rise in June, and reflecting the yen39;s weakness and rising raw materials prices.

Reporting by Kentaro Sugiyama and Makiko Yamazaki; Editing by Tom Hogue

Source Reuters