Japan's wholesale prices rise 7.2 pct in July

Japan's wholesale prices rose 7.2 percent in July from a year earlier, the Bank of Japan (BOJ) said Thursday.

The increase in prices of goods traded between companies was down from a revised 7.3 percent seen in June, slowing for the first time in five months, BOJ data showed.

The data came as the BOJ kept its policy rate unchanged at its July meeting but warned that underlying inflation could exceed its 2 percent target, raising the possibility of a rate hike at the central bank's next meeting in September.

Import prices jumped 29.1 percent in July from a year earlier, becoming a major source of pressure in the Japanese economy, with the yen's weakness continuing to push up the cost of imported goods.

Meanwhile, export prices climbed 18.9 percent.

xinhua