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Japan will take “unprecedented” measures to curb rising electricity bills for households and businesses as a weak yen fans inflation and global recession fears pose big risks to the economy, Prime Minister Fumio Kishida told parliament on Wednesday.
“Rising energy and food prices due to Russia’s invasion of Ukraine, coupled with a weak yen, and the fears of global economic slowdown are big risk factors to Japan’s economy,” Kishida said.
Consumer prices in Japan’s capital Tokyo rose in September at the fastest pace since 2014, government data showed on Monday, highlighting the increasing burden for households from the yen’s plunge to 24-year-lows.
