Recapping the inflation data from Japan earlier- higher but might slow BOJ rate hikes ...Middle East

Earlier in the session we had higher inflation reported from Japan, PPI/Corporate Goods Price Index:Japan PPI (May) +0.7% m/m (expected +0.4) and +2.4% y/y (expected +2.0%) the fastest annual pace in nine monthsWhile higher inflation seems, on the face of it, an argument for the Bank of Japan to carry on hiking interest rates, the counterpoint being made is this data actually makes it more difficult for the Bank:Yen-based import goods prices are accelerating the pace of the gain (ie weak yen adding upward pressure on prices by pushing up the cost of raw material imports)This cost-push type of inflation could cool consumption, and the economy, and thereby dampen the chances of achieving the k

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