High Energy Prices Send Japan’s Trade Deficit Soaring

Higher energy prices coupled with a sharp drop in the value of the yen pushed Japan’s trade deficit last month to a record $19.7 billion. August was the thirteenth month in a row that Japan has been importing more than it has been exporting. About half of the deficit came from energy imports from the Middle East, the AP reported, citing government data.

"The weaker yen is boosting (the cost of) imports at a time of surging energy prices. Energy and grain prices have shown signs of stabilizing recently, but the impact of the sharp drop in…