Japan’s Inflation Driven by Energy, Commodity Costs, Says PM Kishida

Japanese Prime Minister Fumio Kishida speaks before the media at his official residence as an extraordinary Diet session was closed, in Tokyo, Japan, on Dec. 21, 2021. (Yoshikazu Tsuno/Pool via Reuters)

TOKYO—Japanese Prime Minister Fumio Kishida said on Tuesday recent price rises in the country were driven largely by rising energy and global commodity costs.

“It’s desirable to create an environment in which companies can pass on rising costs, raise wages, so that increasing consumption spurs economic growth and inflation,” Kishida told parliament.