TOKYO - Japan's core consumer prices fell at their fastest pace in almost four years in August, dragged mostly by government-sponsored discounts for domestic travel aimed at supporting the battered tourism sector.
Japan's new premier Yoshihide Suga on Wednesday pledged to contain Covid-19 and retain his former boss's"Abenomics" growth policies while pushing reforms such as deregulation and digitalisation. That compared with the median market forecast for a 0.4 per cent decline and a flat reading in July and matched the level seen in November in 2016.
He said the travel campaign will continue to weigh on accommodation while the boost to prices from a sales tax hike implemented last October will disappear later this year.
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