Japanese authorities plan price reduction measures without budget changes

Japanese Prime Minister Shigeru Ishiba does not plan to increase budget expenditures, preferring to focus on the policies already laid out in the current and next plans. This was reported by the press service of the government in response to media articles on the need to implement large-scale measures to lower prices in the country.

The Japanese authorities have already taken a number of measures to support the population, including cash payments to regional authorities and low-income households, as well as the use of rice stocks to curb rising prices of the product. These measures were a response to the cost of living crisis. The situation is seriously affecting Japanese society, causing discontent and intensifying calls for spending and tax cuts. This is reported by Bloomberg.

In February, government subsidies for electricity helped slow the rise in the cost of utilities in Japan. However, overall consumer prices rose slightly more than expected. Food costs increased more than 7% for the second month in a row due to the weak yen and unfavorable weather conditions, the news agency noted.