Japan's wholesale prices surge 7.3% in FY 2021, fastest pace on record

Japan's wholesale prices jumped 7.3 percent in the year to March 2022 from a year earlier, the fastest pace on record, driven by surging crude oil and commodity prices amid an economic recovery from the COVID-19 pandemic and Russia's invasion of Ukraine, Bank of Japan data showed Tuesday.Amplified by a weak yen, the record rise since comparable data became available in 1981 came after a 1.4 percent fall in fiscal 2020. It highlighted the strong impact of fluctuations in commodity prices on Japan, a major energy importer.The depreciation of the yen boosted import prices for Japan by 32.7 per…READ FULL ARTICLE