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Japan consumer prices fall 0.4% in April | Japan consumer prices fall 0.4% in April |
(about 11 hours later) | |
Japan's consumer prices fell by 0.4% year-on-year in April, the sixth straight month of declines. | |
The world's third largest economy has experienced years of deflation, and its central bank currently has a 2% inflation target. | The world's third largest economy has experienced years of deflation, and its central bank currently has a 2% inflation target. |
The core consumer price index figure, which includes oil products but excludes volatile prices of fresh food, followed a 0.5% drop in March. | The core consumer price index figure, which includes oil products but excludes volatile prices of fresh food, followed a 0.5% drop in March. |
And the jobless rate stayed at 4.1% in April, the lowest since November 2008. | And the jobless rate stayed at 4.1% in April, the lowest since November 2008. |
On inflation, Prime Minister Shinzo Abe aims to pull Japan out of 15 years of deflation with active government spending. | On inflation, Prime Minister Shinzo Abe aims to pull Japan out of 15 years of deflation with active government spending. |
He argues his move will ignite the economy and eventually lead to higher pay for workers. | He argues his move will ignite the economy and eventually lead to higher pay for workers. |
The Bank of Japan governor Haruhiko Kuroda has pledged to achieve a 2% inflation target in two years. | The Bank of Japan governor Haruhiko Kuroda has pledged to achieve a 2% inflation target in two years. |
Meanwhile, core consumer prices in Tokyo, which are released a month before the nationwide data, were up 0.1% in May compared with a year earlier. |
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