Japan inflation accelerates slightly as food prices soar

Shoppers in Japan have been keeping an eye on the rising costs at grocery stores, leading to a faster surge in the general consumer price index.

According to the ministry of internal affairs, the Consumer Price Index (CPI) in June, excluding fresh food, witnessed a 3.3 percent rise compared to the same period last year. This rise was slightly larger than the increase observed in the previous month, which was 3.2 percent.

The cost of numerous food products escalated, resulting in a significant surge of 9.2 percent in the food index compared to the same period last year, as observed in June. It is noteworthy to mention that the index excludes fresh items due to their susceptibility to fluctuating prices influenced by weather conditions. Similar escalation was recorded in May, representing the most substantial leap in nearly five decades.

The cost of eggs soared by 35.7 percent. Fizzy beverages witnessed a rise of 17.4 percent, while hamburgers experienced an increase of 17.1 percent in price.

However, the cost of energy actually decreased by 6.6 percent as a result of the government providing subsidies and the decrease in fuel prices. Moreover, electricity bills experienced a significant decline of 12.4 percent.