Arab Today, arab today november data gives boost to japan\s war on deflation
Last Updated : GMT 06:57:07
Arab Today, arab today
Arab Today, arab today

November data gives boost to Japan\'s war on deflation

Arab Today, arab today

Arab Today, arab today November data gives boost to Japan\'s war on deflation

Tokyo - AFP

Japan's war on deflation got a boost last month with a key inflation indicator rising at its fastest pace in 15 years, new data showed Friday, as Tokyo battles to reverse years of falling prices. Stripping out volatile food and energy prices, which have largely driven recent increases, prices inched up 0.6 percent in November, the country's best result since August 1998. The broader consumer price index, which measures a basket of everyday goods but excludes the cost of fresh food, rose 1.2 percent last month from a year earlier, the fastest pace in five years. Prime Minister Shinzo Abe's government has put conquering deflation and stoking growth in the world's third-largest economy at the top of its agenda with a policy blitz dubbed "Abenomics". The upbeat headline for Friday's inflation data was tempered by the fact that prices were still largely driven up by higher fuel bills, not surging demand for everyday goods such as vacuum cleaners and clothes which power the economy as a whole. Electricity bills jumped a hefty 8.2 percent, the data showed, as Japan's energy costs soar in the wake of the 2011 Fukushima atomic disaster, which forced the shutdown of the nation's nuclear reactors. Since the accident, Japan has been importing fossil fuels to plug the energy gap, a pricey option that has become even more expensive as the yen sharply weakened in the wake of the Bank of Japan's unprecedented monetary easing drive. Friday's data showed prices moving towards the BoJ's ambitious two-percent inflation target -- to be reached in just two years. While deflation may sound like a good thing for shoppers, it can be bad for growth because falling prices encourage consumers to put off spending, knowing they will pay less for a product if they wait. That makes it difficult for companies to invest and discourages them from hiking wages, which, in turn, reduces consumer spending further. Despite Abe's much-lauded start since sweeping national elections a year ago, analysts have been warning that Tokyo's bold pro-growth programme -- a mix of big government spending and central bank monetary easing -- is not enough on its own without promised economic reforms. And getting Japan's notoriously thrifty households to spend more is a key part of Abe's drive, as are yet-to-be-seen widespread wage rises. That was in evidence Friday with separate data showing Japan's household spending inched up 0.2 percent in November, well below market expectations, as consumers get ready for a sales tax hike next year. Japan's factory output, meanwhile, expanded by a weaker-than-expected 0.1 percent in November, while the unemployment rate held steady at 4.0 percent. Last week, the BoJ held off fresh policy measures to stimulate growth,saying that the economy was "recovering moderately" while its efforts to stoke inflation were taking hold. But Japan's economic growth slowed markedly in the July-September quarter -- after leading G7 nations in the first half of the year -- as exports weakened and consumer spending slowed. Abe's big test will be key reforms, including loosening rigid labour laws and signing wide-ranging free trade deals, seen as crucial for a lasting turnaround. Legislators have passed a bill that paves the way for an opening up of the electricity sector and Abe is pushing through a bid to strip away protections for the agricultural sector, but it remains to be seen if deeper reforms are in the offing.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today november data gives boost to japan\s war on deflation Arab Today, arab today november data gives boost to japan\s war on deflation

 



Arab Today, arab today
Arab Today, arab today Hats, scarves add beauty to women

GMT 19:10 2017 Friday ,17 February

Hats, scarves add beauty to women
Arab Today, arab today Tourist guide reveals methods of tourist attractions

GMT 17:46 2017 Saturday ,18 February

Tourist guide reveals methods of tourist attractions
Arab Today, arab today To release new antiques collection

GMT 20:33 2017 Friday ,17 February

To release new antiques collection
Arab Today, arab today Leader Omar Abdel Rahman dies in US prison

GMT 19:00 2017 Sunday ,19 February

Leader Omar Abdel Rahman dies in US prison
Arab Today, arab today Murder of 2 reporters in Dominican Republic

GMT 22:45 2017 Thursday ,16 February

Murder of 2 reporters in Dominican Republic

GMT 16:05 2017 Sunday ,19 February

Trudeau calls for wider social benefit from economy

GMT 05:57 2017 Sunday ,19 February

How do you say déjà vu in Greek?

GMT 05:26 2017 Sunday ,19 February

US natural gas market tightens

GMT 05:06 2017 Sunday ,19 February

Merkel: Euro is too low for Germany

GMT 04:58 2017 Sunday ,19 February

Swedish PM: Brexit deal in 2 years is unlikely

GMT 20:02 2017 Saturday ,18 February

Gold edges higher as global equities lose momentum
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Kidogo provides childcare for underserved

GMT 20:24 2017 Wednesday ,15 February

Kidogo provides childcare for underserved
Arab Today, arab today Tragic fluctuations of Bakhtiari's life revealed

GMT 06:50 2017 Wednesday ,15 February

Tragic fluctuations of Bakhtiari's life revealed
Arab Today, arab today London to tax old cars

GMT 14:06 2017 Friday ,17 February

London to tax old cars
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Competes Sweden and Germans by S90

GMT 22:36 2017 Thursday ,16 February

Competes Sweden and Germans by S90
Arab Today, arab today Porsche reveals new 2018 Panamera

GMT 17:31 2017 Wednesday ,15 February

Porsche reveals new 2018 Panamera
Arab Today, arab today Egypt to hold first session of Arab film festival

GMT 21:11 2017 Saturday ,18 February

Egypt to hold first session of Arab film festival
Arab Today, arab today Teach monkeys to recognize themselves in mirror

GMT 20:41 2017 Wednesday ,15 February

Teach monkeys to recognize themselves in mirror

GMT 07:30 2017 Saturday ,18 February

Actress Nadeen Al Rassi views art as her entity

GMT 06:40 2017 Friday ,10 February

MP calls for removing text from Islamic story

GMT 13:16 2017 Tuesday ,14 February

First fashion model with Down syndrome

GMT 10:26 2017 Tuesday ,14 February

Emergency UN meeting in Harare

GMT 14:04 2017 Tuesday ,14 February

"Lagom" new Swedish concept in interior design

GMT 12:07 2017 Thursday ,16 February

Bite-mimicking malaria vaccine

GMT 09:03 2017 Thursday ,16 February

Tour guide praises women’s beaches

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 21:42 2017 Sunday ,12 February

Rania al-Ghazali designs candles of bubbles
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday