Japan’s business services inflation slows in June

TOKYO (Reuters) – Japan’s business-to-business service inflation slowed in June, data showed on Wednesday, suggesting that companies remained slow in passing on rising labour costs despite a tight job market.

The services produce price index, which measures the prices companies charge each other for services, rose 1.2% in June from a year earlier, Bank of Japan (BOJ) data showed, slowing from a revised 1.7% gain in May.

The data comes ahead of the central bank’s closely watched meeting which concludes on Friday, when the board will release fresh quarterly growth and inflation forecasts.

(Reporting by Leika Kihara; Editing by Shri Navaratnam)