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Japan's business services inflation slows in June

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Japan's business-to-business service inflation slowed in June, data showed on Wednesday, suggesting that companies remained slow in passing on rising labour costs despite a tight job market.

The services produce price index, which measures the prices companies charge each other for services, rose 1.2% in June from a year earlier, Bank of Japan data showed, slowing from a revised 1.7% gain in May.

The data comes ahead of the central bank's closely watched meeting which concludes on Friday, when the board will release fresh quarterly growth and inflation forecasts.

 

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