Japan Import Prices Jump 24.8% as Weak Yen Pressures the BOJ

The weak yen turned Japan's October wholesale-price report into a policy event. The Bank of Japan's Corporate Goods Price Index, released Thursday, showed yen-denominated import prices up 24.8 percent from a year earlier, and that currency-driven leg lands at exactly the moment the board is weighing whether to raise interest rates in December.

Key Takeaways Japan's yen-based import price index rose 24.8 percent year over year in October, per the Bank of Japan's Corporate Goods Price Index. The all-commodities producer index accelerated to 7.1 percent, above the 6.5 percent consensus, from 6.8 percent in September. The Bank of Japan reported its all-commodities index up 0.7 percent from the pr…