Wall Street

FOCUS: Rising prices key focus in election but no party has silver bullet

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Kyodo News

As prices of necessity goods such as food and electricity soar following Russia’s invasion of Ukraine, political parties in Japan are struggling to present immediate solutions as they head into the July 10 election for the upper chamber of parliament. Since Japan is a resource-importing country, surging energy prices and rapid falls of the yen against the U.S. dollar are two major factors driving up prices, which voters believe has become the most pressing election issue. However, steps for a short-term fix are limited because rising commodity prices and the yen’s depreciation, which stems fro…

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