Japanese Economics Minister Hiroko Ota said on Friday she was concerned that rising prices could hurt consumer spending.

“The two main risks to the economy are a slowdown in the U.S. economy and the impact of surging raw materials costs,” Ota told a news conference after a cabinet meeting.

Data released earlier Friday showed that Japan’s core consumer price index rose 1.9 percent in June from a year earlier, a new decade-high. [ID:nT344938]

Source: http://www.afxnews.com

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