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The wallets of Japanese residents may get a little lighter next year, as the prices of most goods and services are set to rise under a new consumption tax system starting in October 2019.

Under this new system, consumers may have at least some reprieve, as taxes on important household items — mostly food and beverages — will remain at the existing 8 percent rate, while levies on almost all other goods and services will rise to 10 percent.

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