Japan struggles with deflation as CPI falls 0.7%

Via Japan Stat:

The general index of consumer prices in 2010 for Japan was 99.6(2005=100), down 0.7% from the previous year.

But there is much good in deflation as the Japanese have adjusted.  Via BW:

Price cutting by companies has helped Japanese consumers adjust to deflation. The average household owns 1.4 cars and 2.4 color TVs, about a quarter more than in 1990, a Cabinet Office survey shows. Deflation has helped home buyers, too, by forcing prices down from their peaks in 1990: According to calculations based on yearly Land Ministry data, Japan's residential land prices have dropped by an average of 2.9 percent a year over the past two decades.


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