Japan's wholesale prices decline 4.2 pct. on year in June

Japan's wholesale prices dropped 4.2 percent on year in June, marking the 15th consecutive month of decline, the Bank of Japan (BOJ) said on Tuesday.

According to the central bank, the drop was in line with median market forecasts and comes on the heels of a 4.3 percent annual decline logged in May.

The index of corporate goods prices stood at 99.2 against the 2010 base of 100, the BOJ's preliminary report showed.

In yen terms, the bank said that export prices were down 14.4 percent, while those for imports tumbled 23.2 percent.

Overall final goods prices, which refers to the price of finished products charged to businesses, retreated 3.7 percent in the recording period from a year earlier, the bank said.

Domestic final goods prices, which loosely track the consumer price index, meanwhile, dropped 1.2 percent from a year earlier, the BOJ also said. Endite