Economy More inflationary pressure on Japanese consumers in new fiscal year

[thomas]

At the beginning of the new fiscal year, starting today, 1 April, Japanese consumers will see another wave of price hikes. The current inflation rates have already outpaced wage growth. Over 5,100 food and beverages, ranging from mayonnaise and dairy products to imported wine, will be pricier. Research firm Teikoku Databank estimates that an average household must pay an extra JPY 2,140 monthly for food items.

Consumers are already bearing the brunt of inflation that has hit a four-decade high above 4 per cent, even though the outcome of annual wage negotiations between labour unions and management for the new fiscal year will likely deliver the largest salary increases in three decades. [...] The spread of the avian flu is exacerbating the pain, sending the prices of eggs and products made with them, like mayonnaise, higher. Condiment makers Kewpie Corp. and Ajinomoto Co. are going ahead with their fourth price hike since July 2021. Kewpie's 450-gram mayonnaise will be sold at 520 yen, nearly a 10 per cent increase on the most recent hike. Other food items like cheese, yoghurt, ham and sausages will see their prices rise by around 30 per cent. The price of soy sauce, a daily necessity for many Japanese households, will be some 10 per cent higher.

Public transportation and delivery fees are affected, too:

Six major train operators in the Kansai region centring on Osaka, western Japan, are increasing fares in line with those in the Tokyo metropolitan area. They include Osaka Metro Co., which operates subways in Osaka and nearby areas, along with Hankyu Corp., which links Osaka with Kobe and Kyoto. Passengers will have to pay more for reserved seats on some shinkansen bullet trains running between Osaka and Fukuoka. After the COVID-19 pandemic boosted demand for courier and delivery services and deepened labour shortages, Yamato Transport Co. and Sagawa Express Co. are raising fees by around 10 per cent.

Inflation pain to continue for Japan consumers in new fiscal year

Japan will see another wave of price hikes at the start of the new business year from April 1 as higher raw material costs eat into company margins, dealing yet another blow to consumers already facing inflation rates that have outpaced wage growth.

english.kyodonews.net

Inflation pain to continue for Japan consumers in new fiscal year - The Mainichi

TOKYO (Kyodo) -- Japan will see another wave of price hikes at the start of the new business year from Saturday as higher raw material costs eat into

mainichi.jp

 

[musicisgood]

Have you checked the price of cheese it's actually gone up 100% within the last 60 days.
Anyway there's nothing we can do about it just eat less and buy quality food.
And if you can try to grow a garden I grow garlic and potatoes right now and maybe I'll start planning tomatoes when the season comes and the pumpkin.
But seriously life is so tough man.

 

[mdchachi]

Have you checked the price of cheese it's actually gone up 100% within the last 60 days.
Anyway there's nothing we can do about it just eat less and buy quality food.
And if you can try to grow a garden I grow garlic and potatoes right now and maybe I'll start planning tomatoes when the season comes and the pumpkin.
But seriously life is so tough man.

I don’t know about Japan but I always thought potatos would be the most waste of time and space to grow since you can get 5lbs for $3. But since you don’t have Idaho there it may make more sense.
Tomatos for sure. The store bought varieties here are terrible now since they are bred to be tough and good for shipping. Not so much for taste.

 

[Uncle Frank]

Years ago I tried an above ground garden. Even with netting , the birds , animals and insects ate more than I did. After 2 years , I gave up.