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

TOKYO, Oct 23 : Japan's Economy Minister Minoru Kiuchi announced on Friday that the nation has not yet reached the point where the government can declare an end to deflation. During a press conference, Kiuchi stated that the government's decision to officially end deflation will be based on various factors to ensure Japan does not fall back into periods of persistent price declines.

Kiuchi made these remarks when questioned about reports suggesting the Bank of Japan might signal that underlying inflation has reached its 2 percent target during the bank's upcoming policy meeting.