TOKYO :Japanese Prime Minister Fumio Kishida has ordered the ruling coalition to draft additional measures over the next two weeks to counter price hikes, Kyodo news agency reported on Friday.
Koichi Hagiuda, the ruling Liberal Democratic Party 's policy chief, told reporters that Kishida made the instruction due to high inflation for items such as energy and food, Kyodo said. Kishida asked LDP and its minor coalition partner Komeito to compile their measures and make the proposal to the government by March 17, Kyodo reported.
Japan unveiled a 39 trillion yen fiscal package in October to curb the impact of inflation for households and businesses, including measures such as subsidies to cut retail electricity bills by 20 per cent. Thanks to the energy subsidies, a leading indicator of Japan's consumer prices slowed its pace of increase in February, data showed on Friday. However, an index stripping away the effect of fuel hit a fresh three-decade high in a sign of broadening inflationary pressure.
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