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Inflation Rate Shrinks in Japan
Japan's core consumer price index, which ignores volatile food prices, shrank by 0.1% last month compared with August 2014, according to government data.
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Japan's core consumer price index, which ignores volatile food prices, shrank by 0.1% last month compared with August 2014, according to government data.
When food prices are included, last month's price index expanded 0.2% year on year but was unchanged from July 2015. Economists, who expected the decline, say the shrinkage may prompt the Bank of Japan to increase its stimulation efforts to avoid damaging deflation.
The country's economy shrank 0.4% to an annualized 1.6% in April-June compared with an expansion of 4.5% in January-March. Analysts blame the slumping economy on sagging export volume (especially to the U.S. and China) and lackluster consumer spending.
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