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.