Japan's wholesale inflation slows for 4th month in July

TOKYO (Reuters) -Japan’s annual wholesale inflation slowed for the fourth straight month in July, data showed on Wednesday, underscoring the central bank’s view that upward price pressure from raw material costs will dissipate.

The corporate goods price index (CGPI), which measures the price companies charge each other for their goods and services, rose 2.6% in July from a year earlier, data showed, slowing from the previous month’s 2.9% increase. It compared with a median market forecast for a 2.5% rise.

The yen-based import price index fell 10.4% in July from a year earlier, following a revised 12.2% drop in June, the Bank of Japan (BOJ) data showed.