BOJ Kuroda: Firms smoothly passing on tax hike costs

TOKYO Wed May 14, 2014 9:17pm EDT

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TOKYO May 15 (Reuters) - Bank of Japan Governor Haruhiko Kuroda said on Thursday companies are making progress in translating the cost of April's sales tax hike to consumers.

"Upward pressure on nominal wages is steadily increasing," Kuroda told a parliament committee, adding that heightening medium- to long-term inflation expectations are starting to affect wages and prices. (Reporting by Leika Kihara; Editing by Chang-Ran Kim)