Prices in Japan falling at record rate

Prices in Japan falling at record rate

Prices in Japan tumbled at a record pace in August, intensifying concerns that deflation could undermine the country’s fragile economic recovery.

The country’s key consumer price index, which excludes volatile fresh food prices, fell 2.4% from a year earlier amid rising unemployment and falling wages, the government said.

The figure marks the steepest decline since officials began compiling comparable data in 1971.

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