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Rising Prices in Japan Squeeze Household Finances; Major Parties Pledge to Lower Consumption Tax in Election Campaigns

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By Ai Kishida / Yomiuri Shimbun Staff Writer

17:47 JST, February 1, 2026

All the major parties are vowing to lower the consumption tax rate in their campaigns for the House of Representatives election. Partly due to surging prices for materials, prices in general have been rising for a prolonged time and household finances are being squeezed as a result.

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