Bloomberg details:
Japan’s consumer prices fell for a 13th month in March, indicating the economy remains hampered by deflation even as the export-led recovery starts to spread.
Prices excluding fresh food slid 1.2 percent from a year earlier, after dropping 1.2 percent in February, the statistics bureau said today in Tokyo. The result matched the median estimate of 28 economists surveyed by Bloomberg News.
Source: Stat.GO
How much worse will it be here? 20 years later, and they are still 75%below their all time high on the Nikkei Index. These folks also had the benefit of a trade surplus and deficit spending from their own savings. We have nothing but terrible pain ahead folks. While we watch the bread and circus in Japan, remember that the bell tolls for thee America.
ReplyDeleteas techically ;we can't say that
ReplyDeleteJapan has "deflation" !
Economy Literature does'nt know
what the Japan Economy is..!
spectre- while they had a much bigger bubble, there are many parallels. hopefully we learned from their mistakes...
ReplyDelete