Japan's prime minister has instructed ministers to compile a package of emergency measures to cope with soaring prices as a result of the war in Ukraine.

Kishida Fumio stressed at a Cabinet meeting on Tuesday the importance of protecting the economy and people's lives. He said social and economic activities need to be kept on a path to recovery.

Kishida told ministers to address key areas, such as rising crude oil prices and the impact of high wheat prices on food and animal feed.

He said there needs to be funding to support small and medium-sized businesses affected by high oil prices and the coronavirus pandemic, as well as for people struggling to make ends meet.

He said he would set up a ministerial committee for this purpose that would report directly to him.

Kishida told Economic Revitalization Minister Yamagiwa Daishiro to take the lead on devising the measures by the end of April, in close coordination with the ruling parties.