Japan econmin vows to prevent return of deflation

FILE PHOTO: Japan's Economy Minister Yasutoshi Nishimura attends a joint news conference with Tokyo Governor Yuriko Koike and other panel members after their talks on the latest situation of the coronavirus disease (COVID-19) outbreak, in Tokyo, Japan July 10, 2020. REUTERS/Issei Kato

TOKYO: Japanese Economy Minister Yasutoshi Nishimura said on Friday that he was determined to prevent the nation from returning to deflation and that he would cooperate with the Bank of Japan on economic management.

Speaking to reporters, Nishimura, said consumer prices were moving sideways excluding the impact from the nation's domestic travel campaign.

Government-sponsored discounts for domestic travel aimed at supporting the battered tourism sector has weighed on prices of accommodations. - Reuters