<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/cc9376c5-2ed4-4b8f-af97-f9c43bb4eeaf/E21CC58F-EB08-4173-80BE-67F36445E1A1/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://www.ft.com/cms/s/0/64e67bf4-6202-11de-9e03-00144feabdc0.html" href="http://www.ft.com/cms/s/0/64e67bf4-6202-11de-9e03-00144feabdc0.html" style="font-size: 11px;">www.ft.com</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.ft.com/cms/s/0/64e67bf4-6202-11de-9e03-00144feabdc0.html"><P>Japanese consumer prices fell a record 1.1 per cent in May compared with a year earlier, underlining the return of the deflation that has dogged the country since the bursting of its 1980s asset price bubble.</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.ft.com/cms/s/0/64e67bf4-6202-11de-9e03-00144feabdc0.html"><P>Last month’s fall in prices was the sharpest since Japan began issuing comparable statistics in 1971. Analysts said much of the decline was caused by lower energy prices and a change in petrol tax. However, the “core-core” <A href="http://www.ft.com/cms/s/0/ba75d7c0-35f9-11de-a997-00144feabdc0.html" class="bodystrong">consumer price index</A>, which excludes energy, was down 0.5 per cent in May, and an extended period of deflation appears likely.</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.ft.com/cms/s/0/64e67bf4-6202-11de-9e03-00144feabdc0.html"><P>While the Bank of Japan has so far been relatively relaxed <A href="http://www.ft.com/cms/s/2/ea76bfbe-621f-11de-b1c9-00144feabdc0.html" class="bodystrong">about deflation</A> – which did not derail the long period of economic growth that ended last year – the new data will give ammunition to those who think the bank should act more aggressively.</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.ft.com/cms/s/0/64e67bf4-6202-11de-9e03-00144feabdc0.html">“Massive” spare capacity and rising unemployment would add downward pressure to wages and prices, </blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;">&nbsp;</td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/E21CC58F-EB08-4173-80BE-67F36445E1A1/blog/" title="blog or email this clip"><img src="http://content7.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>

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