Japan's CPI turns negative

May 22, 2020

Business
Japan's CPI turns negative

Tokyo (Japan), May 22: Japan's consumer prices have slipped into negative territory for the first time in more than 3 years due to the pandemic.
Officials at the Internal Affairs Ministry say the Consumer Price Index was down 0.2 percent in April year-on-year. The figure excludes fresh food.
The ministry says cheaper crude oil pushed down gasoline and other fuel costs.
Another factor was the falling cost of hotel accommodations due to the massive plunge of international tourism.
Source: NHK World