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Japan Producer Prices Rise 0.2% In July
(RTTNews) - Producer prices in Japan were up 0.2 percent on month in July, the Bank of Japan said on Wednesday.
That was in line with expectations following the upwardly revised 0.1 percent contraction in June (originally -0.2 percent).
On a yearly basis, producer prices rose 2.6 percent - exceeding forecasts for 2.5 percent and down from 2.9 percent in the previous month.
Export prices were up 0.3 percent on month and down 1.1 percent on year, the bank said, while import prices rose 1.1 percent on month and slumped 5.1 percent on year.
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The Bank of Japan maintained its interest rate but lifted its inflation outlook due to rising food prices, which had added expectations of an rate hike as soon as in October.
The policy board unanimously decided to hold the uncollateralized overnight call rate to remain at around 0.5 percent.
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