Wed, 28 Dec 2011 07:54:20 GMT
Japan faces deflation for the first time in last decade
Japan's recovery from
March tsunami and earthquake, was harmed by drop both in retail sales and
production in November. Industrial
production lost 2.6% compared to October while retail sales gave up 2.1%. As
result, consumer prices excepting fresh food, tumbled 0.2% on a yearly basis. Japanese
economy faces a downward path as exports are declining, said, Yoshimasa
Maruyama, Itochu Corp. chief economist.