Japan January wholesale prices rise 9.5 pct yr/yr

TOKYO (Reuters) – Japans wholesale prices in January rose 9.5% from a year earlier, data showed on Friday, adding to growing signs of inflationary pressure that could keep the central bank under pressure to phase out its massive stimulus programme.

The increase in the corporate goods price index (CGPI), which measures the price companies charge each other for their goods and services, compared with a median market forecast for a 9.6% gain. It followed a revised 10.5% rise in December, Bank of Japan data showed.

While global commodity inflation has run its course, companies continued to charge higher prices for products ranging from food, steel and chemical goods, the data showed.

The data suggests that Japan‘s core consumer inflation, which hit a 41-year high of 4.0% in December, will likely remain well above the central bank’s 2% target in coming months.

(Reporting by Leika Kihara; Editing by Jacqueline Wong)