Japan's wholesale inflation or corporate goods price index increased 0.8% in October from a year earlier, below market forecasts of a 0.9% increase. This marks the slowest year-on-year growth in wholesale inflation in Japan since February 2021 and the 10th straight month of slowing inflation. The slowdown was caused by declining prices for wood, chemical, and steel products, reflecting falling global commodity costs filtering through. While wholesale inflation is cooling, labor shortages and higher wages are expected to still support inflation in services prices according to some economists.