According to CoinMeta, Japan's Producer Price Index ( PPI ) rose by 7.2% year-on-year in July, lower than the economists' forecast of 7.4%. Nevertheless, the weakness of the Japanese yen and a 29.1% increase in import prices still support the possibility of the Bank of Japan raising interest rates in September. Although PPI did not meet expectations, the overall price level remains at a historical high, indicating ongoing cost pressures.