Japan's wholesale inflation slowed in January but hovered near the record pace hit in November, data showed on Thursday, a sign persistently high raw material costs were prompting more firms to raise prices.
While the mounting cost pressure could push up consumer inflation in coming months, it risks hurting a fragile economic recovery as household spending takes a hit from a spike in COVID-19 cases.
The corporate goods price index (CGPI) rose 8.6% in January from a year earlier, marking the 11th straight month of gains and exceeding a median market forecast for a 8.2% gain.