Japan's core consumer prices down by 0.5% in July
Tokyo
THE Bank of Japan's (BOJ) highly elusive inflation target slipped further out of range on Friday when it was announced that Japanese core consumer prices fell by 0.5 per cent in July compared with the level a year earlier - marking the fastest fall in more than three years and the fifth consecutive month of declines.
Along with Prime Minister Shinzo Abe's economic growth targets of 3 per cent annually in nominal terms and 2 per cent in real terms, the BOJ's 2 per cent annual inflation goal is looking increasingly like a mirage, analysts said, adding that the credibility of "Abenomics" is waning.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
Eurozone at turning point needs consumers to get out and spend
Chinese tariffs could leave cognac makers with too much brandy
Xi begins Europe tour in Paris as Macron seeks to reset ties
South Korea’s probe alleges 211.2 billion won of illegal short trades
Suzhou Industrial Park: The crown jewel of China-Singapore relations celebrates its 30th year
Top US Treasury official to travel to Singapore, Malaysia to discuss sanctions