Japan's consumer prices fell for 9th straight month in November
New official data show that Japan's consumer prices fell for the ninth straight month in November, while household spending declined and unemployment ticked up.
According to Japan’s Internal Affairs Ministry, Japan's household spending declined 1.5 percent in November from a year ago. Meanwhile, unemployment rate edged up to 3.1 percent in November from the 3.0 percent registered in October.
Japan’s Central Bank said last month it expected to hit two percent inflation by March 2019 - four years later than its original target and the latest in a string of delays.
Media reports say, under deflation, general price falls can discourage companies from making capital investments, while also slowing production. Deflation can also discourage spending by consumers, who might postpone purchases until prices drop further or save money, creating further pressure on businesses.
The data are viewed as a further blow to the efforts from the government and the Bank of Japan to pump up the country’s economy with massive public spending and aggressive monetary easing.
Officials blame external factors including falling energy prices and uncertainty related to emerging economies, for their failure to achieve a promised two percent inflation target.
Economists expect inflation to accelerate in 2017 reflecting a recent rebound in oil costs and yen declines that push up import prices, easing pressure on the Bank of Japan to top up an already massive stimulus program.
Pakistan says Iran's gas project ‘need of the hour’, pushes for US sanctions waiver
Israeli economy plunges almost 20% as Gaza war takes heavy toll
IMF to urge China to shift growth model towards consumption
Israeli occupation of Palestine ‘main cause of instability’ in region: Turkish FM
VIDEO | Columbia students camp on university grounds in support of Palestinians
VIDEO | Muslim unity and Palestine
UN Security Council's inaction prompted Iran to attack Israel: FM
Know their names: Palestinian athletes, scouts, coaches killed by Israel in Gaza
'It was not a strike': Iran FM dismisses Israeli weapons as 'children toys'
The struggles of Occupied Palestine
Saadi Day: Ayatollah Khamenei exalts great Persian poet
This makes it easy to access the Press TV website
