Japan's wholesale inflation hit a four-decade high in October, following a similar spike in China's factory gate prices as supply bottlenecks and rising commodity costs threatened Asian corporate profits.
The rising cost pressures, coupled with a weak yen that inflates the price of imported goods, adds to pain for the world's third-largest economy as it emerges from the consumer slump caused by the pandemic.
The corporate goods price index , which measures the prices companies charge each other for their goods and services, surged 8.0% in October from a year earlier, exceeding market expectations for a 7.0% gain, Bank of Japan data showed on Thursday. Wholesale prices rose for a range of goods including fuel, which spiked 44.5% in October from a year earlier, and timber goods, which saw prices surge 57.0%.
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