Japan’s wholesale prices have accelerated for three straight months as companies continue to pass on rising raw material and labor costs, data showed on Wednesday, putting continued pressure on the central bank to raise interest rates again. The increase, which followed a 3.6 percent gain in October, was driven by higher prices for food, non-ferrous metals and plastic goods, reflecting rising raw material and labor costs. “While consumption is lacking momentum, real wages are no longer falling as much. Given rising inflation pressures, there is a good chance the BOJ will raise interest rates in December,” said Takeshi Minami, chief economist at Norinchukin Research Institute. In Asian currency trading, the dollar lost 0.3 percent to 151.54 yen and rose slightly to 7.2477 yuan. Compared to the Swiss currency, it moved up slightly to 0.8831 francs. At the same time, the euro remained almost unchanged at 1.0530 dollars and rose slightly to 0.9298 francs.
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