Japan prices tumble at record rate in August (core CPI -2.4% in Aug year-on-year)

AP ^ | 09/28/09 | Tomoko A. Hosaka

[TigerLikesRooster]

Japan prices tumble at record rate in August

Japan core consumer price index falls by record 2.4 percent in August

By Tomoko A. Hosaka, Associated Press Writer

On Monday September 28, 2009, 9:17 pm EDT

TOKYO (AP) -- Prices in Japan tumbled at a record pace in August, intensifying concerns that deflation could undermine the country's fragile economic recovery.

The country's key consumer price index, which excludes volatile fresh food prices, fell 2.4 percent from a year earlier amid rising unemployment and falling wages, the government said Tuesday. The figure marks the steepest decline since officials began compiling comparable data in 1971.

[TigerLikesRooster]

Japan back to deflation. Lost dacade redux. Maybe this time around it will become depression in Japan's case, because I don't see Japan inflate itself to death. As for U.S., it is still hard to tell, even though deflationary pressure is getting stronger. If Fed quit fighting it, then it will be depression, but if it keeps on fighting at all costs, we may get inflation.

[TigerLikesRooster]

Ping!

[unkus]

No matter how one looks at it, we’re in very bad times. And, no one will be immune!

[himno hero]

Too bad that America has a leader who doesnt want to lead, investors and businessmen who are afraid of marxism and a populace that doesnt trust Obama!

If we only had a president,,, the global economies G7... (not the third world G20s) would be dragging everyone along

[HiTech RedNeck]

International trade may alleviate some of this, because if Japanese goods get cheaper, more people will want to import them.

[unkus]

0bama wille detested by 85% of the population of the Unitesd States within a year.

[M. Espinola]

Shades of the Asian Economic Flu.

[paudio]

That assumes other countries have money to buy goods from Japan.

[HiTech RedNeck]

If things get that bad, Japan’s local deflation is the least of worries.

[ActrFshr]

Former PM Koizumi is getting the last laugh here. His party rejected his conservative reforms and his country rejected his party. Now the opposition will have to deal with their impossible promises. Japan’s CPI “deflation” is a joke. For the everyday Japanese or expat, especially those with stable incomes, falling prices are a blessing. CPI deflation is only problematic for the Americans with maxed out credit cards and zero savings. Stagnant economy and prices beat hyper inflation any day of the week.

[riri]

0bama wille detested by 85% of the population of the Unitesd States within a year.

But at least 30 percent will be too intimidated to admit it vocally outside of the kitchen table because they are afraid of being called a racist.

[chuck_the_tv_out]

Surely Japan prices are so artificially inflated that deflation in Japan does not mean the same as deflation in the US.

[Future Useless Eater]

Further deflation will wipe out banks and economies world wide.

So then it seems that war in the middle east is now certain. Because it will guarantee skyrocketed oil prices, gas rationing, more mass-transit usage, a quick end to deflation, and for Obots, another crisis to milk.

All signs are pointing in that direction... Gold anyone?

[green iguana]

if Japanese goods get cheaper

They won't, at least in export, with the Yen as strong as it is.