Japanese Prime Minister Shigeru Ishiba on Monday stressed the need to establish a common understanding among parties on the pros and cons of cutting the country's sales tax rate.

Japanese Prime Minister Shigeru Ishiba was clinging on Monday even after his coalition disastrously lost its upper house majority, as painful new US tariffs loom.

A slight easing in consumer inflation is welcome news for the Japanese central bank, but stubbornly high food prices will be of concern for policymakers.

Japan's core inflation cooled to 3.3% in June, coming down from a 29-month high of 3.7% as rice inflation showed signs of easing. The figure — which strips out costs for fresh food — was in line with the 3.3% expected by economists polled by Reuters. Headline inflation in the country dropped to 3.3%, coming down from 3.5% in May.

Japanese Prime Minister Shigeru Ishiba clung on Monday even after his coalition suffered what he called an "extremely regrettable" election result, as painful new US tariffs loom.

Japan's core inflation slowed in June but stayed above the central bank's 2% target for well over three years, highlighting lingering price pressures that back market expectations for further interest rate rises.

Rice prices in Japan soared 99.2% in June year-on-year, official data showed today, piling further pressure on Prime Minister Shigeru Ishiba ahead of elections this weekend.

Japan’s inability to lift inflation is “one of the biggest unsolved challenges in the profession,” said Mark Gertler, a professor of economics at New York University who has studied the issue.

Japan holds Upper House elections every three years to fill half the chamber’s 248 seats. This year, 124 regular seats and one extra vacancy are being contested.