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Japan prices tumble by record in August

Thu Sep 24, 2009 1:22 AM EDT
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Associated Press
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<p>FILE - In this June 11, 2009, file photo an checks Japanese vehicles parked before being loaded onto a cargo ship at an export port in Yokohama near Tokyo, Japan. Japan's exports tumbled 36 percent in August — with car shipments falling by half — and imports also contracted sharply, the government said Thursday Sept. 23, 2009, showing the world's No. 2 economy remains mired in a deep slump. (AP Photo/Koji Sasahara, File)</p>

FILE - In this June 11, 2009, file photo an checks Japanese vehicles parked before being loaded onto a cargo ship at an export port in Yokohama near Tokyo, Japan. Japan's exports tumbled 36 percent in August — with car shipments falling by half — and imports also contracted sharply, the government said Thursday Sept. 23, 2009, showing the world's No. 2 economy remains mired in a deep slump. (AP Photo/Koji Sasahara, File)

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TOKYO — The government says prices in Japan tumbled at a record pace in August amid growing worries about jobs and wages.

The country's core consumer price index fell 2.4 percent from a year earlier. The figure marks steepest decline since officials began compiling comparable data in 1971.

Japan's core CPI has now dropped for six straight months, indicating that deflation is strengthening its grip on the world's second largest economy.

The core CPI for Tokyo retreated 2.1 percent in September. The results suggest that prices nationwide are headed further downward. Prices in the nation's capital are considered a leading barometer of price trends across Japan.

© 2009 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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