Japan’s August Corporate Services Price Index Rises 3.7% YoY

The acceleration is marginal, but it reinforces the picture of sticky service-sector inflation in Japan rather than a one-off spike. That matters for the interest-rate path: services prices are the component policymakers watch most closely when judging whether domestic inflation is durable. Whether this upward pressure persists into coming months — and whether it feeds through to broader consumer prices — is the open question for yen and JGB markets.