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Japan Inflation At New Low Since War On Falling Prices Began - Yahoo News

The government data on Friday showed that Japan's inflation rate last month came in at 2.2 percent, down from 2.5 percent in December. But stripping out the effect of a sales tax hike last year, it rose just 0.2 percent from a year earlier, the lowest since a zero percent rate in May 2013. The slip makes the Bank of Japan's much-touted 2.0 percent inflation goal -- a cornerstone of Abenomics -- look increasingly unrealistic. View gallery Bank of Japan Governor Haruhiko Kuroda (R) speaks to the press in Tokyo on February 27, 2015 (AFP Ph Prices had been on the rise, largely due to Japan having to import pricey fossil fuels to plug an energy gap left by the shutdown of atomic reactors in the wake of the 2011 Fukushima accident. But plunging oil prices have dealt another blow to the BoJ's inflation goals, and doubts are growing over the ambitious target -- even among policymakers themselves. Minutes from the central bank's January meeting showed that three of nine BoJ board members doubted the chances of reaching the price target. http://lemuelvqvp.hazblog.com Kuroda has said the bank would further expand its unprecedented monetary easing campaign -- launched in April 2013 -- if necessary. - free Sluggish spending - On Friday, Kuroda insisted that an expected recovery in oil prices -- they have dropped by about half since the summer -- will help the BoJ get its inflation target back on track.
Read more: http://news.yahoo.com/japan-inflation-lowest-since-war-falling-prices-began-030211000--finance.html

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