Japan's Wholesale Prices Down
Japan's wholesale prices dropped
Tokyo - QNA
Japan's wholesale prices dropped for the 20th straight month in November, down 2.2% from a year earlier, weighed down by lower crude oil prices, Bank of Japan data showed Monday.
The result underscores that the Japanese central bank faces a difficult challenge to achieve its 2% inflation goal, according to Japan's News Agency (Kyodo).
Wholesale prices tend to affect consumer prices, which have stayed in negative territory in recent months.
Prices of petroleum and coal saw a 5.7% fall, and those of nonferrous metals slid 5.4%.
Prices of electricity, gas and water marked a 10.8% drop, while those of chemical products saw a 5.8% fall.
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