Food Inflation in Japan Remains Relatively Low: Kishida

Politics

Tokyo, June 13 (Jiji Press)--Food price hikes caused by the Russian invasion of Ukraine are milder in Japan than in other countries, Japanese Prime Minister Fumio Kishida said Monday.

While food inflation exceeds 6 pct in more than half of the Group of 20 countries, including emerging economies, it remains relatively low in Japan, Kishida told a committee meeting of the House of Councillors, the upper chamber of parliament.

He also said, "Current price increases are having a major impact on people's lives and corporate activity, causing concerns about the future."

The government will take all possible measures to address rising prices by using reserve funds secured under its fiscal 2022 supplementary budget, he said.

The prime minister denied there are plans to temporarily lower the country's 10 pct consumption tax rate.

[Copyright The Jiji Press, Ltd.]

Jiji Press