Japan Food Prices:

 Article Source:

 https://mainichi.jp/english/articles/20230211/p2g/00m/0bu/023000c

Article:

TOKYO (Kyodo) -- Food prices will continue to soar in Japan in the first four months this year, with prices on more than 10,000 items set to rise due to high material and logistic costs, according to a recent survey by a credit research company.

Prices of 12,054 items have climbed or are expected to do so this year. Prices would be 16 percent higher on average from the current level, up 3 percentage points from a year earlier, according to Teikoku Databank Ltd. data as of Jan. 31.

The pace of the increases will be about two times higher than the first four months of last year when 5,573 items became more expensive.

Ideas:

And at the same time, wages increases were not as good as expected which means inflation is still going to be challenge for many consumers.

As inflation and prices continue to increases consumers are going to think less and less about getting out and shopping and or buying things online. 

Yes, of course for some it might not be a problem but for many its a real challenge on how to manage inflation and increase costs over time.

Article:

This month, prices of 5,463 items, such as frozen food and seafood products, will be raised, in another "price hike rush," following rises on over 7,800 items last October.

In March, 2,716 food items, including confectioneries, are expected to see price increases, while 3,192 items will see a rise in April, the survey said.

Teikoku predicts that the price increase of 2,000 to 3,000 items per month will continue until this summer.

Ideas:

As prices increase consumers have to make choices. Some items maybe they have to continue to buy but for many products they might look for substitutes and or not buy anything at all.

And then it become a situation of all things considered and all things being considered for less of than before including health care costs and or quality food products over time.

Japan doesn't want to become the US where many low income earners can barely afford quality health care and quality food for good health.

Article:

"There is a possibility that the trend of passing on the increased cost of electricity and other expenses to customers will continue after summer," an official of the credit research company said.

A wide range of items has experienced price hikes since last summer as rising oil prices have raised logistics costs. While the rapid depreciation of the yen, which accelerated the trend, has been alleviated this year, the increase in electricity and gas bills will be a factor in pushing up prices, the company said.

The survey compiled pricing data from 105 listed and 90 non-listed manufacturers in the food and beverage industry.

Ideas:

Energy costs related to home use are just extra expenses that households have to pay for which means less extra income for other things in the economy. And for low income earners it might mean less quality food and they have to look for less quality low cost food because of energy costs are just too high.

While a weak yen might help exporters its not helping domestic consumers with their costs and it doesn't look like it going to change anything soon.

Consumers can only make choices and decide what is important and eliminate anything else which means less spending overall in the economy.

Have a nice day and be safe!