TOKYO, July 26: Japanese Economics Minister Akira Amari said domestic prices are gradually rising towards the central bank’s inflation target, after data showed the country’s core consumer price trend turned positive in June and marked the fastest rise since 2008.
‘I think prices have started to head in the direction of reaching the government’s aim’ of 2 percent inflation, Amari told reporters after a cabinet meeting on Friday.
Amari also said the cabinet would formally decide on its mid-term fiscal plan to shore up Japan’s public finances in the autumn, when it decides whether to proceed with raising the sales tax as planned.
He added that the government would come up with a rough direction towards fiscal consolidation in August when it maps out budget guidelines for the next fiscal year from April 2014. (AGENCIES)
Follow our WhatsApp channel