Japanese Govt Drops 'Deflation' From Economic View

(RTTNews) - Japan's government dropped 'deflation' from its monthly economic report for the first time in four years.

The Cabinet Office on Tuesday noted that consumer prices are firm. In the last month report, it said, "Recent price developments indicate that the deflation is ending."

But the Cabinet Office official today said it is too early to declare that deflation is over.

The government maintained the view that the economy is on the way to recovery at a moderate pace, while it upgraded the assessment of private consumption, saying it is 'picking up'.

The report affirmed that exports are in a weak tone recently and industrial production is increasing at a moderate pace. Further, the government observed that firms' judgment on current business conditions is broadly improving.