Consumer prices in Japan rose at the fastest pace in five years in October, suggesting policymakers’ attempts to end years of deflation are working.
Consumer prices, excluding food, rose 0.9% from a year earlier. Prices have now risen for five months in a row.
Japan has been battling deflation, or falling prices, for best part of the past 20 years.
It is seen as a major drag on its economy and policymakers have unveiled a series of measures to end the cycle.
While falling prices may sound good to those experiencing inflation, they hold back economic growth as consumers and businesses tend to put off purchases in the hope of getting a cheaper deal later on, which hurts domestic demand.
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