Japanese prices rise in boost to PM Abe's deflation fight
TOKYO (AFP) - Prices in Japan rose last month at their fastest pace in nearly five years, data showed on Friday, the latest sign that efforts to conquer years of growth-sapping deflation were taking hold.
The consumer price index, which measures a basket of everyday goods, but excludes the volatile cost of fresh food, was up 0.8 percent from a year earlier, the biggest monthly rise since November 2008 when they logged a 1.0 percent rise, according to the internal affairs ministry.
It was also the third monthly rise in a row, good news for Prime Minister Shinzo Abe, who has pledged to drag Japan out of its 15-year economic funk, lifting prices and wages to get the economy moving again.
However the upbeat tone of Friday's data was tempered by the fact that the increase was largely driven by higher fuel bills rather than widespread price rises.