Japan's wholesale inflation accelerated in October at the fastest annual pace in more than a year as renewed yen falls pushed up import costs for some goods, complicating the central bank's decision on how soon to raise interest rates.

TOKYO: Japan’s wholesale inflation accelerated in October at the fastest annual pace in more than a year as renewed yen falls pushed up import costs for

The corporate goods price index (CGPI), which measures the price that companies charge each other for goods and services, rose 3.4% in October from a year earlier, Bank of Japan data showed, above market forecasts for a 3.0% gain. It followed a 3.1% increase in September.

Bank of Japan board members discussed the need for caution on raising its benchmark rate and offered no clear hint of a move next month, a summary of opinions from its October policy meeting showed.

The summary of opinions from the BOJ’s October policy meeting on Monday revealed divisions among members on the timing of future interest rate hikes, with some warning of the risk of renewed market volatility.