Japanese Prime Minister Fumio Kishida has called for discussions on economic measures next month and has given the ruling party an outline for measures to cut gasoline and other fuel prices by the end of August. "I've heard a lot of people say this summer that they're distressed by rising prices for gasoline and other fuels," he said in a speech on Tuesday. "This month we will first consider the overall solution to this problem, and wait until next month to fully discuss the overall economic plan.”
Summer holidays without COVID-related curbs, higher bonuses and a travel demand comeback appear to signal consumers are ready to ramp up spending, in a boon to the Japanese economy.
Holidaymakers To Boost Spending as Japan Growth at Tipping Point khaosodenglish.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from khaosodenglish.com Daily Mail and Mail on Sunday newspapers.
Japan's inflation may have peaked, no imminent change seen to BOJ policy reuters.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from reuters.com Daily Mail and Mail on Sunday newspapers.
Japan's consumer inflation accelerated to 3.3 percent in June from a year earlier, government data shows, in a fresh sign of broadening price hikes that could fuel speculation of a policy tweak by the Bank of Japan.