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Tokyo prices' 10-month slide halts in June despite virus restrictions


Jun 25, 2021
Tokyo consumer prices were flat in June, halting a 10-month slide amid firmer global energy markets and despite business restrictions that remain in place to contain the coronavirus.
Prices in the capital excluding fresh food were unchanged from a year earlier, with the gauge getting support from higher education costs and moderating falls in electricity bills, the internal affairs ministry reported Friday. Analysts had forecast a 0.1% drop in the headline figure.
While rebounding global energy markets are buoying prices, Japan’s situation contrasts with the United States and other countries, where fear of inflation has started to fuel expectations for an eventual withdrawal of central bank stimulus. The Bank of Japan doesn’t see inflation hitting its 2% target before 2024, meaning it’s likely to keep easing for the foreseeable future. ....

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Japan to avoid recession, but Q2 growth forecasts cut sharply: poll


Japan to avoid recession, but Q2 growth forecasts cut sharply: poll
Today
03:30 am JST
Today | 06:45 am JST
TOKYO
Japan s economy likely grew and avoided slipping into recession this quarter but an extension of emergency measures to stem a rise in coronavirus infections has dented the growth outlook, a Reuters poll showed.
Just over a month before Tokyo is set to host the Olympic Games, the world s third-largest economy was seen expanding an annualized 0.5% this quarter, less than a third of the 1.7% economists projected last month, according to the June 2-14 poll of 36 economists.
Japan s gross domestic product shrank by an annualized 3.9% in January-March, the first contraction in three quarters. ....

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