Japan PM Kishida urges spurring wage hikes to avoid stagflation By
© Reuters. FILE PHOTO: Japan’s Prime Minister Fumio Kishida attends a press conference in Tokyo, Japan, on December 16, 2022, addressing some topics such as National Security Strategy, political and social issues facing Japan in today’s World crisis. David Mareuil/P
TOKYO (Reuters) – Japanese Prime Minister Fumio Kishida called on Thursday for business leaders to accelerate wage hikes, warning that the economy risked falling into stagflation if pay rises lagged price increases.
“There are warnings of alarm bells that stagflation emerges if wage growth lags behind price hikes,” Kishida told a New Year gathering of three major business lobbies.
Read More: Japan PM Kishida urges spurring wage hikes to avoid stagflation By