Japan Govt Panel Reviews Anti-Inflation Measures

Tokyo, Oct. 1 (Jiji Press)–A Japanese government panel on Wednesday reviewed countermeasures for inflation that were included in the government’s fiscal 2024 supplementary budget and fiscal 2025 budget. Referring to progress on measures that were compiled under his administration, Prime Minister Shigeru Ishiba said, “They are being steadily implemented as a whole.” “We will continue to protect people’s lives and business activities from rising prices,” he said at a meeting of the government’s Council on Economic and Fiscal Policy. At the meeting, council members confirmed that the government’s subsidies for electricity and gas charges had worked to lower utility fees. The members also found that rice prices have risen again, due to the distribution of newly harvested rice, after temporarily falling thanks to the release of the government’s stockpiled rice. Looking ahead, the council said that price growth is expected to slow in the second half of this year and to hover around 2 pct in the next fiscal year starting in April 2026, due to the effects of countermeasures and a slower pace of increase in food prices. Additionally, the council suggested that the sentiment of consumers, who were concerned that prices would keep rising, has shown signs of improvement. Regarding U.S. President Donald Trump’s high tariffs, a risk factor for the Japanese economy, the panel underlined the need to keep a close watch on future developments, citing negative impacts such as a decline in automobile exports to the United States and deteriorating earnings at Japanese automakers. END [Copyright The Jiji Press, Ltd.]