Japan’s core consumer prices plunge for third consecutive month and household spending dropped in October, pressuring policymakers to implement measures to bolster growth.
Based on official government data, the core consumer price index slipped 0.1% in the year to October. Household spending slid 2.4% from a year ago.
The decline was predominantly attributed to the effect of declining energy costs, which the Bank of Japan said it will look through in figuring out whether additional easing measure is needed to attain the inflation target.
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