This data, as reported by the Bank of Japan, suggests that companies are passing on rising labor costs to service-related prices, indicating mounting price pressures. The central bank is expected to maintain interest rates steady at 1.25% during a two-day meeting concluding on Friday, but the data suggests that further interest rate hikes may be necessary to address these inflationary pressures.
Key points
Japan's September corporate services prices rose by 3.7% year-over-year, marking the thir…: Japan's September corporate services prices rose by 3.7% year-over-year, marking the third consecutive month of inflation in the sector.
The central bank is expected to maintain interest rates steady at 1.25% during a two-day…: The central bank is expected to maintain interest rates steady at 1.25% during a two-day meeting concluding on Friday.
The data suggests further interest rate hikes may be necessary to address inflationary pr…: The data suggests further interest rate hikes may be necessary to address inflationary pressures.
Sources checked by our analysis pipeline: 1
TOKYO, Oct 27 : A key gauge of Japan's service-sector inflation rose 3.7 per cent in September from a year earlier, data showed on Tuesday, a sign of mounting price pressures that will likely keep the central bank on track for further interest rate hikes.
• The year-on-year rise in the services producer price index, which tracks the prices that companies charge each other for services, followed a revised 3.5 per cent gain in August, data from the Bank of Japan showed
• The data is closely watched by the BOJ for clues on the extent to which companies are passing on rising labour costs to service-related prices
• The BOJ is set to keep interest rates steady at 1.25 per cent in a two-day meeting concluding on Friday, but signal its readiness to continue raising borrowing costs on mounting price pressures
The North-South, East-West, Thomson-East Coast, and Circle lines will extend their services into the early hours of November 8. The last train on the North-South Line and East-West Line will depart from City Hall station at 12:30 am, while the last train on the Thomson-East Coast Line will depart at 12:12 am. The operating hours for 54 bus services will also be extended across the island, with some Jurong East buses leaving as late as 1:30 am.
The Karnataka High Court has quashed criminal proceedings against a homebuyer, Bari, who stopped paying his home loan EMIs after discovering that the builder had sold his flat to another party. This case highlights the complexities of property transactions and the potential for fraud in the real estate industry.
National University of Singapore (NUH) will stop offering plastic bags at its pharmacies starting from November. The hospital encourages patients and visitors to bring their own reusable bags when collecting medication. Donated bags may be available at some pharmacy racks, but only if supplies last.