Japan's wholesale prices drop 3.9 pct on year in July

Japan's wholesale prices fell 3.9 percent on year in July, the Bank of Japan (BOJ) said Wednesday.

According to the central bank, the decline in the recording month marks the sixteenth straight month that prices have retreated.

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

The BOJ said that in yen terms export prices had slumped 14 percent in the recording month, while prices for imports had tumbled 21.7 percent. Endit