Japan's wholesale inflation slowed for a fourth straight month in April as rises in raw material costs moderated, data showed on Monday, suggesting that consumer inflation will begin to ease back towards the central bank's 2% target.
The data may diminish market expectations that broadening inflationary pressure will prod the Bank of Japan to seek an early exit from ultra-low interest rates.
"Having said that, we'll likely see price growth slow as import-driven inflationary pressure is already subsiding." Analysts are closely watching moves in wholesale prices, considered a leading indicator of consumer price trends, for clues on whether consumer inflation will heighten enough for the BOJ to phase out its massive stimulus.
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