TOKYO Aug 30 Japanese Finance Minister Taro Aso
said on Friday that a series of economic data issued earlier in
the day presented a favourable economic trend towards a sales
tax hike planned for next April.
Japan's core consumer inflation rate accelerated to its
highest in nearly five years in July and factory output
rebounded smartly, suggesting that government and central bank
efforts to end deflation are making some progress.
"Taken together, these data suggest the economy is in an
uptrend, and the numbers will affect environment for the sales
tax hike," Aso told a news conference after a cabinet meeting.
Aso also said failure to raises the sales tax would be seen
as that Japan has no intention of proceeding with fiscal
consolidation and therefore could lead to a plunge in share
prices and government bonds.