Japan's producer prices rise for 15th straight month

Wholesale inflation in Japan increased for a 15th straight month in May as the conflict in Ukraine drove up raw material costs.

Preliminary data from the Bank of Japan show that the Producer Price Index rose 9.1 percent last month from a year earlier.

Prices increased for over 80 percent of goods traded among companies. The biggest rises were for lumber, iron and steel, as well as petroleum products.

More firms are passing on higher raw material costs in the prices they charge their business customers.