Japan Core CPI Drops 2.2% In July

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Core consumer prices in Japan fell at the fastest pace on record for the third straight month in July.

Japan's Ministry of Internal Affairs and Communications reported Friday that core CPI, which excludes volatile fresh food prices, declined 2.2 percent on year. That surpassed the 1.7 percent decline recorded in June.

Core prices in Japan have now fallen for five straight months. Economists said the data shows Japan's economy is facing an increasing threat of deflation, as economic troubles linger and consumers spend less.

Core prices for the Tokyo metropolitan area, considered a leading indicator for the national t rends, were down 1.9 percent on year in August, following a 1.7 percent fall in July.

(Market News Provided by RTTNews)