Prime Minister Fumio Kishida has ordered the ruling coalition to draft additional measures over the next two weeks to counter price hikes, Kyodo reported Friday, a move aimed at bolstering a fragile post-COVID economic recovery.
The news comes as households grapple with intensifying cost-of-living pressures amid elevated inflation for items such as energy and food, hitting consumption and smaller businesses.
A global economic slowdown due to sweeping interest rate increases across many countries, led by the U.S. Federal Reserve, has dragged on growth in Japan and undercut hopes for a quick post-COVID revival.