• Kyodo

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Wholesale prices in 2016 fell 3.4 percent to log their second consecutive annual decline as the yen advanced and crude oil prices sank on the back of slowdowns in China and other emerging economies, the Bank of Japan said Monday.

The data cast a pall over the outlook for the central bank’s 2 percent inflation target. The BOJ has pushed back the target five times, most recently to around fiscal 2018, despite aggressive monetary easing and a negative interest rate policy.

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