Japan inflation rises at fastest pace in 5 years

Jan 31, 2014, 5:28 AM EST
Pedestrians walk through the Togoshi shopping district in Tokyo on October 1, 2013.
AFP/Getty Images

Japan's consumer prices have risen at their fastest pace in more than five years, marking more progress in the country's battle against deflation. Data showed that core consumer prices, excluding fresh food, rose by 1.3% in December from a year earlier, which was higher than market forecasts. The latest figures give a boost to Prime Minister Shinzo Abe, who has pledged to end 15 years of falling prices and revive economic growth.
Background:
Japan consumer prices rise 1.3% [BBC]
Japan consumer prices rise most in five years [Market Watch]
Japan sees rise in consumer prices, factory output [AP]

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