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Covid-19: the pandemic awakens deflation in Japan

2021-01-22T20:07:28.607Z


The fall in prices worsened in December, to the point of posting the worst decline in eleven years. Bad news for the Japanese. The fall in prices, a sign of anemic activity, accelerated further in December. The core consumer price index, which includes oil but excludes fresh food, fell 1% last month from a year earlier. This is the biggest drop in prices recorded in Japan since 2010, a time when Tokyo struggled with skyrocketing deflation. Over the whole of 2020, with seven months of decline, i


Bad news for the Japanese.

The fall in prices, a sign of anemic activity, accelerated further in December.

The core consumer price index, which includes oil but excludes fresh food, fell 1% last month from a year earlier.

This is the biggest drop in prices recorded in Japan since 2010, a time when Tokyo struggled with skyrocketing deflation.

Over the whole of 2020, with seven months of decline, in April and May and then in August at the end of the year, consumer prices excluding fresh produce fell by 0.2%.

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Japan offers a $ 600 billion stimulus plan

Japan, which has recorded only 4,880 deaths linked to Covid-19, has so far been spared the epidemic which has killed more than 2 million people and crippled global economic activity.

However, since November, it has suffered its worst wave of infections.

The government therefore declared in early January a new state of emergency in 11 departments, including Tokyo and its suburbs, which affected areas

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Source: lefigaro

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