Japan's consumption tax suspension may not result in lower food prices

Prime Minister Sanae Takaichi aims to suspend the country's consumption tax on food to alleviate the pain of persistent inflation, but some experts, drawing on overseas precedents, are questioning whether it will substantially reduce consumer prices.Some businesses that have not passed on higher import costs driven by the weak yen may also see the tax suspension as providing room for them to do so.Following its landslide victory in the Feb. 8 general election, the ruling coalition led by Takaichi wants to lift the current 8 percent tax on food for two years.A cross-party debate began on Fri…READ FULL ARTICLE