Don't miss

Replay


LATEST SHOWS

MEDIAWATCH

2017-08-21 22:21 MEDIA WATCH

Read more

EYE ON AFRICA

Nigeria's Buhari slams divisions after a 3-month absence

Read more

THE DEBATE

What's next for the "Islamic State Group"?

Read more

ENCORE!

Opera singers Thomas Hampson & Luca Pisaroni return to Paris

Read more

FOCUS

Hunger has forced many Nigerian refugees in northern Cameroon to return to dangerous Boko Haram territory.

Read more

BUSINESS DAILY

US investigating China's intellectual property policy

Read more

IN THE PAPERS

Bonnie Tyler to sing 'Total Eclipse of the Heart' during total solar eclipse

Read more

IN THE PAPERS

Fighting back: How can Europe protect citizens from 'soft target' terrorism?

Read more

EYE ON AFRICA

Kenya’s opposition files a petition against presidential vote

Read more

Business

August marks latest record drop in consumer prices

Text by NEWS WIRES

Latest update : 2009-09-29

Japan's record deflation continued apace in the month of August as the core index of consumer prices slipped 2.4% in the sixth consecutive monthly drop.

AFP - Japan's core consumer prices dropped 2.4 percent in August from a year earlier, the fourth straight month of record falls, official figures showed Tuesday.

Core prices, which exclude those of volatile fresh food, fell for a sixth straight month after a 2.2 percent decline in July, the internal affairs ministry said.

The record fall for August was in line with market expectations. It stemmed from lower gasoline and other energy costs as well as weak domestic demand.

The deflation comes despite recent signs of an improvement in the Japanese economy, which returned to positive growth in the second quarter of 2009, exiting a severe year-long recession.

Japan was stuck in a deflationary spiral for years after its asset price bubble burst in the early 1990s, prompting consumers to put off purchases in the hope of further price drops and reducing corporate earnings.

The core consumer prices in Tokyo, a leading indicator of the nationwide trend, fell by an estimated 2.1 percent in September from a year earlier.

Date created : 2009-09-29

COMMENT(S)