Japan inflation unchanged at 1pc in October


TOKYO: Inflation in Japan stood at one percent in October, unchanged from the previous month, according to government data published Thursday, as the world’s third-largest economy continues its years-long struggle with deflation. October’s price rise was in line with market consensus, but still only halfway to the Bank of Japan’s two-percent target. With fresh food and energy stripped out, prices rose by even less — just 0.4 percent year-on-year in October, the internal affairs ministry said. This was also unchanged from September. Japan has battled deflation for many years and the central bank’s ultra-loose monetary policy appears to have had limited impact. Late last month, the Bank of Japan again revised down inflation forecasts, in the latest sign it had failed to make headway towards its two-percent target despite years of massive monetary easing.