Energy costs, weak yen push Tokyo inflation at fastest pace in 30 years

Especially hard hit has been Kyoto.

Walking around the town (Demachiyanagi) today and places are absolutely dead!

The places that are open are shabby and lifeless-old paint, menus and decor and dead insects-not at all welcoming.

I pity those on low wages here.

then you pity about 40% of the population.

Any fresh food is going up massively in Japan .

If prices of vegetables and fruit are included then inflation is running extremely hot!

If people can’t afford proper nutrition then health will suffer.

I pity those on low wages here.

Inflation Rates

Japan 3.0

S Korea 5.7

Australia 6.1

Canada 7.0

Singapore 7.5

USA 8.3

Italy 8.9

UK 9.9

Germany 10.0

Russia 14.3

Argentina 78.5

Energy costs, weak yen push Tokyo inflation at fastest pace in 30 years

Poor little Japan. Life must be really tough.

My tin foil hat says that inflation is caused by extremely high energy costs and strains in supply chains mainly China. Even with the aggressive rate hikes in the US, the inflation has not gone down and if anything, it has risen in the US.

I eat good everyday,when I am in the store,I always show people,where the cheapest meat at HEB,these usually irregular cuts of meats,that they package by themselves,I go to Big Lots and buy clearance items and give lots of it away

My goodness! Tokio is already among ten of the most expensive cities in the world! Canada is among the least expensive cities in the world. But we are not a third world country!

Since the YEN is so weak and the Dollars are so strong. Everyone who is working in the US Military in Japan and the US Embasy are paid in dollars so they are rich right now. Sorry to break the truth.

Yeah my Strong zero was 220 yen still cheaper than a beer LOL. However, This issue will only cause people to spend money on food over everything else because food is what keeps you alive. But what about Internet and phone that dont cost GAS and why should Japan be playing the "monkey see monkey do" as usual? How is Russia and the Ukrainians causing a price HIKE on every darn item in Japan?? I only see that this is the best opportunity for every Japanese company to hike prices without a valid reason out of peer GREED. Anyhow. cost of living for everyone will increase in Japan unless you are making at least 12 million a yen a year.

To get higher wages workers need to become more productive and the take their productivity to where it is treated best. At least this is how it works in normal freeish market economy, but Japan doesn’t like that style and hasn’t figured out a native scheme that produces better results.

Japan about to be a poor country unless companies start to improve wages.

Wages for most workers will never rise in Japan. To get higher wages, employees need to be members of strong Unions who organize strikes to force pay increases out of employers. This will never happen in Japan where people just accept the status quo. .

According to the BOJ's recent projections, core CPI is forecast to top 2 percent in the current business year until next March but will likely undershoot the target in both fiscal 2023 and 2024.

I wonder why is it that no one likes to air-out such dirty laundry, instead of being more pragmatic? One of life's little mysteries I suppose?

It is way more than 2.8%. Dollar got 40% weaker in 2 years. How can it only be 2%. Govt fudging the data to save their jobs and reduce blame. Japanese like to play sekinin sagashi game, and point fingers.

So much of Japan's consumer goods are imported. What is in stores now is probably imported at cheaper rates, but expect big increases later this year, as that inventory is depleted.

Japan about to be a poor country unless companies start to improve wages.

Kuroda has said the central instead prefers to see inflation created by consumer demand and supported by strong wage growth among consumers.

Sure. How does printing money and bankrolling excessive government spending aid that?

According to the BOJ's recent projections, core CPI is forecast to top 2 percent in the current business year until next March but will likely undershoot the target in both fiscal 2023 and 2024.

The BOJ is going to make excuses like this with made up projections and monetize the excessive spending, until the government tells them to stop. The BOJ is pathetic.

Back in the early 90s, most dishes on a menu that I saw were three digits. Now almost everything is four. Minimum wage had gone up about 100 yen. Everyone has gotten a lot poorer.

Yes, real world inflation is more than this, and part of it is food which is not included in the official inflation number. fwiw, food is already a higher % of household spending than many Western countries, so it going up matters more not less.

In the Economist's Big Mac index, Japan is now one of the cheaper countries. In USD terms a Big Mac is about 10% cheaper in Japan than in SK. It costs about 30% more in the UK than in Japan, and about 70% more in the US itself. This suggests prices will be going up more in Japan.

A 10% pay rise to match the real inflation rate and a demand to be paid in US Dollars is the demand where I work in FX. Nobody wants remuneration in the poisoned yen anymore. You are just throwing away money.

Which way is up? Until the situation in Ukraine is resolved and demented despot Putin is removed from power, Japan inflationary pressure will continue unabated. Time for the BOJ to think outside the box.

Food items are excluded from the CPI measurement in Japan so actual inflation is certainly much higher.

Stopped drinking out at whiskey bars and reduced other discretionary spending as well. Cooking way more now too. Actually better off financially and more healthy because of it.

Some food is going up way more than a 2.8%. Vegetables, bread products are a 20-30% up at my local supermarket.

Japan Inc. shamelessly sit on mountains of cash as people suffer and social mobility lies dying in a ditch.

Stop racing to the bottom, and haul society's @$$ way up the value chain.

The world expects nothing less.

2.8 % ???? No joke, inviting you to Germany to see what inflation is :D

""BOJ Governor Haruhiko Kuroda has said the central instead prefers to see inflation created by consumer demand and supported by strong wage growth among consumers.""

It will NOT happen for as long as wages are LOW.

The regular brand of tofu I bought went up 25% on October 1st… and is smaller in the same size packet.

As mentioned in previous comments, a lot food sold in packages are getting smaller… and price increases. Way more than 2%.

Well, BoJ has been “targeting” 2% yearly inflation for the last 25 years.

I guess people should be thankful that it didn’t reach its target, or they’d be paying 50% more.

Here’s a novice idea up the wages they been frozen since I came here 20 years back! Lot of places need workers but do they put their wages up even a tad ? Nope same ol’ 900 odd yen. Greedy .Yeah I been not buying a lot of goods, so I’m saving cash , I ain’t payin’ for that.

Inflation is reaching Japan as well but at least here BOJ has sense and it does not give you a third squeeze which does nothing to help inflation, that is where ECB and FED have gone wrong, it will simply squeeze normal people out of their homes for the benefit of the rich.

Prices have gone up, as well as the quantity or sizes of packages and portions have gone down.

Getting squeezed two ways now.

BOJ Governor Haruhiko Kuroda has said the central instead prefers to see inflation created by consumer demand and supported by strong wage growth among consumers.

Two things that have been killed by the LDP and BOJ policies. In both their Abenomics and "New Capitalism" form.

So they recognize that getting money into the hands of the average worker who consumes is the key to growth.

And the response will be more corporate welfare initiatives, with maybe a few urges to Keidanren to convince the masses they are doing something other than crony capitalism.

I noticed my Strong Zero had gone up from 211 - 220 overnight.

Had to buy three to steady my nerves.

You can judge the economic climate by the alcohol percentage of a strong zero. It's risen 3 times since I came to Japan over a decade ago, strong 7, then 8 and now 9. When it hits 10% you know we are screwed.

Imported food and drinks rising much higher than a few percent stated in this article and as an example I heard that Coca Cola is up 37% to bars !

Try raising the wages ya skinflints.

I noticed my Strong Zero had gone up from 211 - 220 overnight.

Had to buy three to steady my nerves.