Japan business prices slow for seventh straight month in July

Japan’s corporate goods price index slowed for the seventh straight month in July at an annual rate, BOJ data showed on Thursday, as energy utility costs softened, suggesting that pressures driving up consumer prices are fading.

The data underscored the BOJ’s view that consumer inflation will moderate in coming months as global commodity prices ease from last year’s peak.

Government subsidies have softened the impact of rising household gas and electricity bills, helping to keep prices in check.

Import prices in yen fell 14.1% from a year earlier, the fourth straight month of decline, alleviating concerns over rising import costs for companies that rely on imports of raw materials.