AGI – Japan is ready to adopt a massive stimulus package worth a record 56 trillion yen (430 billion euros) to revive the world’s third largest economy, Prime Minister Fumio Kishida said.
The plan, which is expected to be approved by the government later in the day, “is enough to reassure the Japanese people and give them hope,” Kishida said on TV.
Inflation grew by 0.1% on an annual basis
Japan’s consumer prices (excluding fresh food) increased 0.1% in October year-on-year, driven primarily by energy prices.
This mini-inflation, which replicates the September figure, is in line with economists’ expectations. Excluding energy, consumer prices fell 0.7% year-on-year last month.