Japan's growth is slowing this year due to the weakness in both domestic and external demand amid concerns over food price spikes and the U.S. high tariff policy, a senior World Bank economist has observed.
"Obviously, food price inflation is quite high," World Bank Deputy Chief Economist Ayhan Kose said in an interview in Washington on Monday, the day before the bank released its Global Economic Prospects report for June.
In the report, the international financial institution lowered its 2025 growth estimate for Japan's gross domestic product to 0.7% in inflation-adjusted real terms from 1.2% the bank forecast in its January report.
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