Japan mulls economic package of around 17 tril. yen amid inflation

The government is making arrangements for an upcoming economic package to be worth around 17 trillion yen ($112 billion), including tax cuts for households hit by rising prices and other steps to support the economy, sources familiar with the plan said Wednesday.

The size of the package, to be formalized Thursday, may increase further as consultations with the ruling coalition are under way, the sources said. A supplementary budget will be crafted for the current fiscal year to next March to fund most of the planned spending.

The package will likely be smaller than the around 35.6 trillion yen...