Rampant food inflation at a 31 year high in Japan

Food prices in Japan are rising fast as producers struggle to cope with a depreciating Yen and the increasing costs of commodities. 

Data collected from supermarkets and other food retailers show food inflation is currently at 4.5% on the year. It is moving so fast though that sellers are barely able to keep up. 

Whilst 4.5% sounds relatively modest, amongst that average are some significant hikes – the price of cooking oil for example up 23%, dried pasta up 17.1% and Mayonnaise up 16.7%. 

The rising prices are forcing consumers to rethink their spending habits, with low-income households disproportionately affected – reducing their consumption significantly.