Consumer
prices in Japan rose at an annual rate of 3.4% in May, the fastest pace in 32
years, as the effect of the sales tax hike started to be felt.
Japan
raised its sales tax rate from 5% to 8% on 1 April.
The
price growth in May follows a 3.2% jump in April and is a big boost for Japan's
attempt to trigger inflation.
Japan
has been battling deflation, or falling prices, for best part of the past two
decades and that has hurt domestic demand and stifled growth.
The
Japanese government has
