The increase in the corporate goods price index (CGPI), which measures the price companies charge each other for their goods and services, followed a revised 9.4% gain in June.

Oil and coal goods prices rose 14.7% in July from a year earlier, slowing from a 21.8% spike in June, data from the Bank of Japan (BOJ) showed.

Products such as wood and chemicals also saw the pace of price increase moderate, the data showed.

(Reporting by Leika Kihara; Editing by Sam Holmes)

By Leika Kihara