Abe Tested by Weak Retail Sales as Japan Election Looms: Economy
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Japan’s inflation slowed for a third month and retail sales fell more than forecast, showing the economy continues to struggle from a sales-tax increase as Prime Minister Shinzo Abe heads into an election next month.
The Bank of Japan’s key price gauge increased 2.9 percent in October from a year earlier, equivalent to a 0.9 percent gain when the effects of April’s tax bump are excluded. Retail sales dropped 1.4 percent from September, more than a 0.5 percent decline forecast in a Bloomberg News survey.