Japan's ruling coalition orders steps to counter rising inflation

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Japan's ruling coalition orders steps to counter rising inflation

The prime minister Fumio Kishida ordered the ruling coalition to develop 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 increased cost-of-living pressures due to rising 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 has dragged on growth in Japan and undercut hopes for a quick post-COVID revival.

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