TOKYO – Japanese Prime Minister Shigeru Ishiba has ordered the swift implementation of measures to provide shoppers aid from inflated meals costs, together with an unprecedented launch of stockpiled rice to deliver down prices, a minister mentioned on Tuesday.
At a information convention, Financial system Minister Ryosei Akazawa mentioned Mr. Ishiba had instructed the cupboard to proceed shortly with countermeasures as the costs of rice, greens and different dwelling prices have soared in current months.
“Residents are struggling significantly and feeling ache,” he mentioned, noting that the elevated worth of rice had been surprising.
The typical transaction worth of rice produced final 12 months jumped 55% to 23,715 yen ($153) per 60 kg (132 lb) from the earlier 12 months, in response to authorities knowledge.
The agriculture ministry final week agreed on a brand new coverage that will enable the federal government to promote stockpiled rice to farm cooperatives on the situation that the consumers would promote again the equal quantity to the federal government inside a 12 months. It could be the primary time stockpiled rice has been launched to deliver down costs.
Particulars such because the sale worth and timing are but to be determined, a ministry official mentioned on Tuesday.
Japanese client costs rose 3.6% in December from the earlier 12 months, marking the largest leap in nearly two years, whereas the share of households’ spending on meals hit a four-decade excessive final 12 months. – Reuters