Japan's wholesale inflation hits record high as price pressure broadens

Japan's wholesale inflation hit a record 9.0% in November, pushing gains for a ninth straight month, a sign upward pressure on prices from supply bottlenecks and rising raw material costs were broadening.

The year-on-year rise in the corporate goods price index (CGPI), which measures the prices companies charge each other for their goods and services, was the fastest pace since comparable data became available in 1981. It exceeded a median market forecast for an 8.5% gain and a revised 8.3% rise in October, Bank of Japan data showed on Friday.