Japan incoming PM Ishiba signals focus on boosting wages, consumption

Shigeru Ishiba, the newly elected leader of Japan's ruling party, the Liberal Democratic Party (LDP) holds a press conference after the LDP leadership election, in Tokyo, Japan September 27, 2024. - Photo: Reuters

TOKYO: Japan's incoming prime minister Shigeru Ishiba stressed the need for the country's economy to "fully emerge from deflation" and vowed to take steps to boost wages, in a sign his near-term focus would be to keep activity on a sustained recovery track.

He said revitalising consumption was key for Japan to emerge from economic stagnation, adding the new administration must consider the most effective means to cushion the blow to households from rising inflation.