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.

The government will compile another economic stimulus plan by the end of October, including a rare measure to directly ease the rise of electricity prices that are subject to abrupt price flare-ups, Kishida said, without giving specific details.

In the past, the government has paid subsidies to fuel wholesalers to keep gasoline prices low, but now policymakers are floating new ideas such as providing cash payouts and giving subsidies to utility firms to curb price hikes.