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Prime Minister Fumio Kishida on Thursday known as for enterprise leaders to speed up wage rises, warning that the financial system dangers falling into stagflation if pay rises lag value will increase.
“There are alarm bells warning that stagflation emerges if wage development lags behind value hikes,” Kishida instructed a New 12 months’s gathering of three main enterprise lobbies.
Stagflation is a mix of a low financial development and surging inflation, damaging households’ buying energy.
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