Japan Real Time Charts and Data

Edward Hugh is only able to update this blog from time to time, but he does run a lively Twitter account with plenty of Japan related comment. He also maintains a collection of constantly updated Japan data charts with short updates on a Storify dedicated page Is Japan Once More Back in Deflation?

Friday, February 28, 2003

Meanwhile Back at the Coal Face

Whatever the merits or otherwise of new appointments, whether in the US or Japan, a reality check reveals one thing: things ain't gettin better, and fast.

The pernicious deflation that has plagued the Japanese economy showed no signs of alleviating in January while unemployment hit a postwar high, underlining the challenges facing Toshihiko Fukui, the newly-appointed Bank of Japan governor. Japan's jobless rate rose to 5.5 per cent in January while the core consumer price index tumbled 0.8 per cent from a year ago, its fortieth straight month of decline. Economists said deflation was likely to get worse before it got better, a result of the strengthening yen and "anaemic monetary stimulus". The yen recently rose to a six-month high against the dollar at Y117.Chris Walker, economist at Credit Suisse First Boston in Tokyo, said: "For the next few months, the most likely direction for CPI inflation is down, towards the record rate of minus 1 per cent, year-on-year.
Source: Financial Times