For the first time in 4 years, Japan drops “deflation” from economic view as prices pick up

Japan’s government said in its monthly economic report for December on Tuesday that consumer prices are “firm,” dropping reference to “deflation” for the first time in about four years (more)

This was expected

The Nikkei is higher, and USD/JPY is following:

5 min candles Nikkei 24 December 2013

5 min candles Nikkei 24 December 2013

Japan Prime Minister Shinzo Abe said too that the economy is making steady progress towards escaping deflation as the economic improvement continued to broaden. (More) Abe was speaking at a meeting of ministers.

Coming up – Bank of Japan (BOJ) Governor Kuroda is speaking later today.

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