Japan just can’t shake deflation. Consumer prices fell a record 2.2% in July. Even if you strip out food & energy prices, which ran up last year, Japanese prices still fell 0.9%.
It increasingly appears the country is fighting a losing battle here.
Reuters: It was the third straight month of record falls in the index, and the biggest drop under calculation methods dating back to 1970. July also marked the fifth straight month of annual falls, the Ministry of Internal Affairs and Communications data showed on Friday.
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