Japan still mired in stubborn deflation
Core consumer prices down 0.5% , household spending down 4.6% on year in August
Tokyo
DEFLATIONARY trends continued to prevail - and by some measures worsen - in Japan in August, official data released on Friday showed, underscoring the uphill task of the Bank of Japan (BOJ) in trying to reignite price rises and create an inflationary mindset in the world's third-largest economy.
The news came just as the main opposition Democratic Party is stepping up its attack on Prime Minister Shinzo Abe's Abenomics policies, a key element of which involve fighting the country's persistent deflation. It also coincided with reports that Mr Abe may call a snap Lower House parliamentary election in January.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
Putin plans to meet Xi in China days after his new term starts
Biden vetoes bid to repeal US labour board rule on contract, franchise workers
Economic leaders of South Korea, Japan, China say FX volatility is a risk
US automakers win extension on use of Chinese graphite in EV tax credits
US service sector contracts in April; price pressures up
Thaksin’s daughter calls central bank independence an ‘obstacle’