Japan to donate $230 to low-income households to fight inflation

The Japanese government prepared a package to counter inflation caused by rising energy and food costs and the depreciation of the Japanese yen against the currency.

Consumer prices excluding fresh food in the country rose 3.1 percent in February from a year earlier and slowed by more than one percentage point from a month earlier due to cheaper energy costs. However, above-target inflation alarmed the government.

$230 WILL BE GIVEN TO LOW-INCOME GENERALS

Within the scope of the anti-inflation package of 2 trillion yen ($15 billion) in total, cash support will be provided and will aim to reduce energy bills. Within the scope of support, 30,000 yen ($230) will be provided in cash per low-income household and 50,000 yen ($380) per current child in these families.

RESPONSE TO PRICE INCREASES

Reserve funds in the state budget that cover the current fiscal year will be used to finance the package announced before local elections to be held in April. Chief Cabinet Secretary Matsuno Hirokazu said in a statement that the Japanese government is ready to respond quickly to volatile prices. (AA)