Japan to spend $15B on inflation aid

Japan is set to allocate more than 2 trillion yen ($15.1 billion) in additional aid to ease the impact from high inflation ahead of local elections next month, Report informs, citing Bloomberg.

The outlays will come from reserve funds already budgeted for the fiscal year ending this month, Economy Minister Shigeyuki Goto told reporters Wednesday. The measures include handouts for low-income households and their children, and support for households that use liquefied petroleum gas, according to documents from the cabinet office.

Low-income households will receive 30,000 yen each and another 50,000 per child will be given to low-income earners with children.