Japan’s services producer price index, which measures prices companies charge one another for services, rose 3.7% in August from a year earlier, up from 3.6% in July. It was the fastest annual increase since June 2024, with higher freight, advertising and rental lease fees pointing to broader service-sector price pressures. The data is closely monitored by the Bank of Japan (BOJ), Japan’s central bank, for evidence that companies are passing rising labor costs through to customers. The BOJ raised its policy rate to 1.25% this month, a 31-year high, and its governor signaled that further increases remain possible to prevent inflation from exceeding the bank’s target.