Japan's wholesale inflation slows in January, yen import prices up

By Leika Kihara TOKYO, Feb 12 (Reuters) – Japan's annual wholesale inflation slowed for the second straight month in January but yen-based import costs rose, data showed on Thursday, suggesting a weak yen will continue to put upward pressure on prices. The corporate goods price index (CGPI), which measures the price companies charge each other for their goods and services, rose 2.3% in January from a year earlier, matching a median market forecast and slowing from a 2.4% gain in December. An index measuring yen-based import prices rose 0.5% last month from a year earlier after a revised 0.2% increase in December, Bank of Japan (BOJ) data showed. The data will be among factors the BOJ scrutinises in determining whether underlying inflation is on track to durably hit its 2% target. The BOJ raised its policy rate to a 30-year high of 0.75% from 0.5% in December, taking another landmark step in ending decades of huge monetary support and near-zero borrowing costs. (Reporting by Leika KiharaEditing by Shri Navaratnam)

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