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Economy

Japan wholesale inflation hits 40-year high as fuel costs spike

Supply bottlenecks, rising commodity prices hit world's No.3 economy

Wholesale prices rose for goods including timber, which surged nearly 60% in October from a year earlier.   © Reuters

TOKYO (Reuters) -- Japan's wholesale inflation hit a four-decade high in October, following a similar spike in China's factory gate prices as supply bottlenecks and rising commodity costs threatened Asian corporate profits.

The rising cost pressures, coupled with a weak yen that inflates the price of imported goods, adds to pain for the world's third-largest economy as it emerges from the consumer slump caused by the pandemic.

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