Takaichi's Approval Plunges as Inflation Hits Japanese Households

Japanese Prime Minister Sanae Takaichi is facing growing public dissatisfaction as rising prices and higher living costs erode support for her government.

A nationwide poll published by the Yomiuri newspaper showed that approval for Takaichi's administration fell sharply in July, with a cabinet approval rating of 57%, down from 69% in June. This marks the first time since Takaichi took office that support for her government has fallen below 60%.

The survey, conducted from July 24 to 26, also revealed that public disapproval increased significantly, with 34% of respondents opposing the cabinet, up from 21% in the previous month. Inflation emerged as the biggest concern for voters, with 71% expressing dissatisfaction with the government's handling of rising prices and living costs.

Takaichi is facing criticism over her government's expansionary fiscal and monetary policy approach, which has contributed to higher bond yields and pressure on the yen, causing it to fall to levels not seen in several decades. The latest polling results could increase pressure on the government to provide immediate relief to households, as voters increasingly focus on everyday expenses and their purchasing power.