Japan’s wholesale inflation eases in May due to lower oil prices

Wholesale inflation in Japan eased in May due to lower crude oil prices.

The Bank of Japan’s preliminary producer price index rose 3.2% in May compared to the previous year, slowing from the 4.1% increase recorded in April.

NHK reported that the cost of goods traded between companies rose, driven by higher prices for farm products such as rice and chicken in the month.

Meanwhile, the import price index fell 10.3% year-on-year in yen terms due to lower crude oil prices.

The central bank said it will closely monitor changes in demand trends amid concerns about tariff measures taken by the Trump administration and a potential global economic slowdown.