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BOJ's Yamaguchi:Japan not in spiralling deflation

Mon Jun 29, 2009 12:58am EDT

(For more stories on the Japanese economy, click [ID:nECONJP])

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TOKYO, June 29 (Reuters) - Bank of Japan (BOJ) Deputy Governor Hirohide Yamaguchi said on Monday that Japan is not in spiralling deflation and the central bank expects falls in consumer prices to moderate after the summer.

"We expect falls in core consumer prices to shrink after summer. We judge that Japan is not in spiralling deflation," Yamaguchi told a committee of parliament's upper house. (Reporting by Hideyuki Sano)

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