Kishida Vows to Fight Inflation

Politics

Tokyo, June 15 (Jiji Press)--Japanese Prime Minister Fumio Kishida said Wednesday that his government will establish a task force to discuss ways to curb inflation and spur wage rises.

At a press conference after the end of a regular parliamentary session, Kishida said that the recent surge in energy and food prices has been caused by Russia's invasion of Ukraine.

"Measures to curb the rise in electricity rates and stabilize power demand and supply are necessary," he said, suggesting that the government will soon release measures for conserving electricity.

He also said the government will take necessary measures to stem the rise in bread and noodle prices if imported wheat prices remain elevated beyond September.

The prime minister said the government will keep meat prices from rising by offering compensation to producers to offset rising feed prices. It will lower production costs for major agricultural products by up to around 10 pct to counter soaring fertilizer prices, he said.

[Copyright The Jiji Press, Ltd.]

Jiji Press