Japan's $199 billion inflation-fighting package

Japanese Prime Minister Fumio Kishida has ordered a 29 trillion yen ($199 billion) supplementary budget to ease the impact of inflation. The 29 trillion yen ($199 billion) package will subsidize Japan’s economy to ease the impact of inflation on households. Japan’s ruling Liberal Democratic Party (LDP) and its ally Komeito have agreed on details of an economic package aimed at combating a weak yen and rising prices. The supplementary budget, worth about 29 trillion yen, will ease the economic burden on households. It will provide a 7 yen per kilowatt-hour subsidy for electricity costs and a 30 yen per cubic meter subsidy for city gas consumption. Subsidies will also be provided to oil suppliers in the first half of the next fiscal year.