January 12, 2018 / 1:33 AM / a year ago

Japan's Motegi: need to look at several indicators to declare end of deflation

Japanese Minister of Economic Revitalization Toshimitsu Motegi attends a news conference on the Trans Pacific Partnership (TPP) Ministerial Meeting during APEC 2017 in Da Nang, Vietnam, November 11, 2017. REUTERS/Kham

TOKYO (Reuters) - Japanese Economy Minister Toshimitsu Motegi said on Friday the government needs to look at several economic indicators to determine if it is appropriate to declare an end to deflation.

Motegi spoke in response to a question on whether consumer prices need to reach the Bank of Japan’s 2 percent inflation target in order for the government to officially say the country is out of deflation.

Motegi, speaking to reporters, said the economy is heading out of deflation, but the government needs to carefully examine whether this trend will continue.

Reporting by Stanley White; Editing by Chris Gallagher

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