Economy

Demeter

(85,373 posts)

20. Japan Prices Rise Most Since ’08 in Boost for Abe LIAR, LIAR PANTS ON FIRE

Wed Jul 31, 2013, 07:21 AM

Jul 2013

http://www.bloomberg.com/news/2013-07-25/japan-s-consumer-prices-rise-most-since-late-2008-amid-recovery.html

Japan consumer prices rose the most since 2008 in June, an early sign that the world’s third-biggest economy may be starting to shake off 15 years of deflation.

Consumer prices excluding fresh food increased 0.4 percent in June from a year earlier, the statistics bureau said in a statement today. The median estimate of 29 economists was for a 0.3 percent gain, a Bloomberg News survey showed. Excluding energy as well, prices dropped 0.2 percent, continuing more than four years of declines.

As Prime Minister Shinzo Abe’s policies weaken the yen and energy costs rise, the increase in consumer prices could stoke inflation expectations and encourage companies and consumers to spend more, bolstering the economic recovery. After April’s unprecedented monetary easing, the next challenge for Abe is to loosen constraints on the labor market and companies to achieve sustained growth and a goal of 2 percent inflation.

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