Tokyo Inflation Slows For First Time In 4 Months | World Business Watch | WION

Tokyo Inflation Slows For First Time In 4 Months | World Business Watch | WION

japan’s battle with persistent inflation is now front and center in the political arena just weeks before a key upper house election Prime Minister Shigeru Ishiba is under pressure not just from rising prices but from voters demanding immediate relief opposition parties are calling for a temporary cut in the consumption tax while Ishiba stands firm opting instead for targeting relief measures now Prime Minister Ishiba on Sunday doubled down on his opposition to cutting the national sales tax even as inflation remains stubbornly high and support for his government slips with Japan’s current consumption tax at 10% and food taxed at a reduced 8% calls to ease the burden on households are growing louder japanese consumers have endured more than three years of inflation at or above the Bank of Japan’s 2% target food prices in particular have surged pushing inflation in Tokyo to the highest among G7 nations in June inflation in Tokyo slowed for the first time in 4 months thanks in part to recent government moves to reduce utility and gasoline prices speaking at a conference hosted by the Japan Productivity Center Ishiba stressed the need for speedy action but also warned that any relief must not threaten funding for medical care elderly care or pensions instead of a sales tax cut Ishiba has proposed direct cash handouts to households most in need now the political cost of inaction is already being felt ishiba’s ruling coalition suffered a historic defeat in the recent Tokyo metropolitan election with many voters citing the high cost of living and political scandals as deciding factors

Japan’s battle with persistent inflation is now front and center in the political arena, just weeks before a key upper house election. Prime Minister Shigeru Ishiba is under pressure, not just from rising prices, but from voters demanding immediate relief.

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