Japan's business service prices rise at fastest annual pace since March 2015

📆 5/27/2024 8:10 PM
📰 ChannelNewsAsia

⏱ Reading Time:
21 sec. here
2 min. at publisher
📊 Quality Score:
News: 12%
Publisher: 66%

United States News News

United States United States Latest News,United States United States Headlines

TOKYO : Japanese corporate services prices in April rose at their fastest pace since early 2015, Bank of Japan data showed on Tuesday, boosted by labour costs in the services sector in a positive signal for policymakers looking for wages-led cycle of demand growth.

FILE PHOTO: Pedestrians are reflected on a curved mirror next to Japan’s national flag in a shopping district in Tokyo, Japan March 19, 2024. REUTERS/Kim Kyung-Hoon/file photo

The annual gains reflect rising labour costs in labour-intensive service businesses such as machine repair and industrial facility renovation. Low wages in Japan have long been a stumbling block to fostering sustainable consumption and broader economic growth. But businesses have recently delivered their biggest pay hikes in decades, seen by many as a major reason for BOJ's policy shift.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

Write Comment

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Business service prices rise at fastest annual pace since March 2015TOKYO : Japanese corporate services prices in April rose at their fastest pace since early 2015, Bank of Japan data showed on Tuesday, boosted by labour costs in the services sector.The Corporate Services Price Index (CSPI) rose 2.8 per cent year-on-year in April, following a 2.
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »