The race for the Party leadership has become a battleground of strategies over inflationary concerns in Japan. The primary issue is what plan each candidate proposes to confront the rising prices. These measures are expected to be a key determinant in the upcoming election as citizens are increasingly concerned about the future of their economy.
Inflation has been a long-standing issue in Japan despite various measures to combat it. As such, Japan’s economy and politics are intertwined and greatly influence the welfare and decision-making of its citizens. Political candidates' plans on handling inflation often become crucial factors in securing public support.
In comparison, both the US and EU also grapple with inflation. However, Japan’s persistent deflation sets it apart. While the US and the EU focused on controlling inflation rates, Japan had been attempting to reach a 2% inflation target for years.