Japanese households will see their budgets further squeezed by a new wave of price hikes scheduled for October on food and services, while freelancers and those self-employed may have to shoulder higher tax burdens under a new invoice system.
The Philippines has taken the rare step of asking retailers and consumers in Japan, its biggest export market, to bear the brunt of higher prices for its bananas to sustain its industry for the populaar fruit.
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The Japanese government has decided to continue its subsidy program for oil wholesalers in May and further raise the payment from the current 25 yen (20 cents) per liter to prevent a sharp increase in fuel prices as oil supply concerns persist due to a cut in Russian oil exports, sources familiar with the matter say.
Japan s industry minister Koichi Hagiuda says the government will implement for the first time its oil industry subsidy program, which is aimed at curbing petroleum fuel prices starting later this week following a recent surge in oil prices.