TOKYO, May 15 (Xinhua) -- Japan's wholesale prices climbed 4.9 percent year on year in April, the fastest increase in about three years, as the Middle East conflict has pushed up oil and chemical goods prices, data from the Bank of Japan showed Friday.
The prices of goods traded between companies rose 2.3 percent from the previous month, picking up speed from a revised 1 percent increase in March.
The figures highlight mounting inflationary pressures in Japan, an economy heavily reliant on the Middle East for imports of oil and other petroleum products.
By category, prices of petroleum and coal products, including naphtha, rose 5.3 percent from a year earlier, while chemicals and related products such as ethylene surged 9.2 percent amid supply disruptions stemming from the effective closure of the Strait of Hormuz following the outbreak of the Middle East conflict.
The data are being closely watched as Japan's central bank comes under pressure to raise interest rates, and businesses become more inclined to pass on higher costs to consumers.
Besides, import prices surged 17.5 percent from a year earlier, with the yen's depreciation against the U.S. dollar pushing up import costs for Japanese companies. Export prices jumped 18.9 percent. ■