Japan’s £172bn plan to beat inflation

JAPANESE Prime Minister Fumio Kishida’s government has approved a hefty economic package that will include government funding of about 29 trillion yen (£172 billion) to soften the burden of costs from rising utility rates and food prices. Inflation has been rising in Japan along with globally surging prices, while a weakening of the yen against the dollar has amplified costs for imports. The stimulus package includes subsidies for households that are largely seen as an attempt by Mr Kishida to lift his plunging popularity.