Japan is not yet officially out of deflation, economy minister says

Tokyo, Oct 23 - Japan has not yet reached the point where the government can officially declare an end to deflation, Economy Minister Minoru Kiuchi stated on Friday. In deciding to declare an end to deflation, the government will consider a range of factors to ensure that Japan does not fall back into a cycle of persistent price drops, Kiuchi said during a press conference.

When asked about reports from the media that the Bank of Japan may signal that underlying inflation has nearly met its 2 per cent target at the central bank's upcoming policy meeting, Kiuchi provided no immediate response.