Japan’s wholesale prices jumped 7.3% in the year to March 2022 from a year earlier — the fastest pace on record — driven by surging crude oil and commodity prices amid an economic recovery from the COVID-19 pandemic and Russia’s invasion of Ukraine, Bank of Japan data showed Tuesday.
Amplified by a weak yen, the record rise since comparable data became available in 1981 came after a 1.4% fall in fiscal 2020. It highlighted the strong impact of fluctuations in commodity prices on Japan, a major energy importer.
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