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Japan National CPI: Deflation Hits Japanese Economy for Third Consecutive Month
The Japanese economy sunk deeper into deflation last month, placing the burden squarely on Prime Minister Shinzo Abe to expedite his promise for re-inflating the economy with record asset purchases. Japan’s national consumer price index (CPI) excluding fresh food declined 0.4% in May from a year earlier, the state-run Statistics Bureau said in a report on Friday. The so-called core inflation rate had plunged 0.3% annually in each of the past two months. The national consumer price index fell 0.4% in the 12 months through May following a 0.3% decline the previous month. Core inflation in Tokyo, Japan’s capital and ... (full story)