HomeEconomyJapan considers measures to cushion blow from rising utility bills: Nikkei Economy Japan considers measures to cushion blow from rising utility bills: Nikkei By farahat September 29, 2022 0 114 views Share FacebookTwitterPinterestWhatsApp JP 11 +0.% Add to Watchlist/Remove from Watchlist Add to watch list Add Location Position added successfully ly to: Please name Your portfolio type: purchase Sell date: quantity: price Point value: ) Leverage: 1 :1 1: 1: 1: by Leika Kihara and Takahiko Wada Tokyo ( (Reuters) – Japan will consider more measures to cushion the blow from higher electricity bills, a government spokesman said on Thursday, underscoring its efforts to address the burden on households from higher import prices due to a weaker yen face pressure. Electricity bills have gone up by about % In the past A year for households and approximately % For businesses, Chief Cabinet Secretary Hirokazu Matsuno The briefing said, adding that this growth is becoming “a heavy burden on consumers.” “us The development of electricity tariffs will be carefully reviewed and further measures will be considered,” he said. This sentence is in Posted after Nikkei Newspapers reported Thursday that the government may offer cash payments to households and businesses and subsidies to utilities to ease the rising pain of the Three Cities Act. Nihon Keizai Shimbun said Prime Minister Fumio Kishida may announce his determination to take “unprecedented bold measures” in his parliamentary speech on Monday to directly ease the burden. Kishida may also announce that Japan will set an inbound tourism consumption target of more than 5 trillion yen ($ billion) a year, the Nikkei reports. The government is expected to announce next month a package of measures to ease rising inflation, possibly funded by another supplementary budget. The Kishida government’s approval ratings have slipped in part due to public dissatisfaction with the rising cost of living, as the recent sharp fall in the yen has pushed up the prices of imported fuel and food . Authorities’ intervention underscored policymakers’ concerns about the damage to growth from a weaker yen . Any government measures to curb electricity bills could affect the Bank of Japan’s quarterly inflation forecasts next month, which are closely watched over how soon the central bank may cut massive stimulus measure clues. “If the government does take steps to curb utility bills, it will bring some downward pressure,” said Toru Suehiro, chief economist at Kawa Securities. ” but core consumer inflation is still likely to exceed 2.5% and approach 3% at the end of March this fiscal year, and may not slow down much thereafter,” he said. . Although inflation in Japan is much lower than this in other advanced economies, as a weak yen pushes up import prices, 8 Core consumer inflation accelerated to 2.8% in the month, surpassing the central bank’s 2% target for the fifth consecutive month. Bank of Japan Governor Haruhiko Kuroda has ruled out the possibility of raising Japan’s ultra-low interest rates in the short term, believing that core consumer inflation will fall back below 2. Percentage of fiscal year cost drivers dissipated. ($1=11.52 JPY) Share FacebookTwitterPinterestWhatsApp Previous articleNews Emmy winners from ABC, Vice, CBS and moreNext articleWorld Bank to discuss alternative 'Doing Business' report in October farahat RELATED ARTICLES Economy Marketmind: China disappoints again, fanning stimulus speculation June 7, 2023 Economy Dollar drifts as traders assess Fed options; Aussie up June 7, 2023 Economy U.S. debt ceiling fight reignites debate over Ukraine fund June 6, 2023 LEAVE A REPLY Cancel reply Comment: Please enter your comment! Name:* Please enter your name here Email:* You have entered an incorrect email address! Please enter your email address here Website: Save my name, email, and website in this browser for the next time I comment. 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