Once-Booming Economy: Inflation and Percent Target

once-booming economy: But consumer spending remains tepid, and the Bank of Japan has struggled to lift inflation despite years of aggressive monetary easing, according to The Japan Times. After stripping out the volatile cost of fresh food, inflation in May came in at 0.4 percent, the fifth consecutive monthly rise, according to the internal affairs ministry. The country's prospects have been improving on the back of strong exports, with investments linked to the Tokyo 2020 Olympics also giving the economy a shot in the arm. However, the inflation figures fall well short of the BOJ's 2.0 percent target seen as crucial to conquering the long struggle to slay deflation that is blamed for holding back the once-booming economy. The rise in prices was driven more by higher energy costs rather than a broad-based rise backed by stronger consumer spending. Separate data Friday showed household spending edged down 0.1 percent in May from a year ago, extending more than a year of declines. (news.financializer.com). As reported in the news.