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Inflation

Japan unveils $200bn package to combat highest inflation in decades

Tokyo consumer prices up 3.4%; Kishida calls rapid forex fluctuations 'undesirable'

Japanese Prime Minister Fumio Kishida explains his anti-inflation package on Oct. 28. (Photo by Uichiro Kasai) 

TOKYO -- Japan on Friday unveiled an economic package worth about $200 billion to cushion the highest inflation seen in decades, as households and some businesses feel the impact of a weak yen.

Announcing the plan, Prime Minister Fumio Kishida told reporters that his government "will protect people's livelihoods from high prices through effective and drastic easing measures," emphasizing the need to target energy prices, which he said are "the main cause of the price surge."

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