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Japan: Deflation dents consumer prices by 1.7 percent

Consumer prices fell for a ninth month in November, adding to signs that deflation will undermine growth in the world’s second largest economy.

Seiyu, a supermarket chain owned by US-based Wal-Mart Stores Inc., this week cut the price of coats, sweaters, shoes and underwear by as much as 60 percent to boost sales as consumers tighten their purse strings. Rival Ito Yokado, owned by Seven & I Holdings, last week held a cash-back campaign for clothing and household goods.

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