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Economy October will see more price hikes in Japan

thomas

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Japanese consumers are facing another round of price hikes in October: mail fees are set to increase by approximately 30%, adding to the ongoing surge in food and beverage prices. Additionally, several lifestyle-related changes are in store. The minimum wage will see a boost of 51 yen (about 35 cents), bringing the national weighted average to 1,055 yen (around $7.32). Furthermore, child allowances will be expanded with the elimination of income caps.


  • Japan Post Co. is increasing its domestic mail rates for the first time in nearly 30 years. The hike is primarily attributed to decreased physical mail usage and rising operational costs. Starting 1 October, the rate for standard-size sealed letters will increase from 84 yen to 110 yen, while postcards will go from 63 yen to 85 yen. The Letter Pack service, which allows for larger packages, will also see rate increases. This marks a significant change for Japan Post, which has struggled to maintain profitability due to digital communication trends.
  • Starting in October, Japanese consumers can expect to pay more for various food and beverage items. Several major companies, including Kirin, Asahi, Suntory, Coca-Cola, and Ito En, are raising suggested retail prices for drinks in plastic or metal bottles. Rising costs for raw materials, packaging, logistics, and labour are driving the price increases, which could exceed 30% for some products. The weak yen has also contributed to higher costs for imported materials.
  • Several Japanese snack manufacturers are raising prices for their products. Kameda Seika, known for "Happy Turn" and "Potapota Yaki," is increasing prices by 9% to 22%. Koike-ya also hikes prices for its potato chips and other snacks. Additionally, companies like NH Foods, Marudai Foods, and Itoham Foods are raising prices for items like hams and sausages by up to 20%.


Japan braces for yet more price hikes in Oct. including postal fees, food, drinks - The Mainichi

TOKYO -- Another set of price increases awaits consumers in Japan in October, such as mail fees going up by around 30% in addition to ongoing food and
mainichi.jp

Yaokin Co., the maker of the popular Umaibo snacks, is raising the price of its iconic corn snacks from ¥12 to ¥15 per stick. The price hike, effective in October, is due to rising costs for corn, vegetable oil, labour, and delivery. This marks the second price increase for Umaibo in recent years.

Umaibo, You Too? Japan’s Yaokin Co. to Increase Prices of Beloved Snack Again

<p>The price of Umaibo, stick-shaped puffed corn snacks, will be raised from ¥12 to ¥15 starting with shipments sent in October, Yaokin Co. announced on Tuesday.</p>
japannews.yomiuri.co.jp
 
We eat a lot of (fresh) veggies out of the produce section, and prices are certainly firm to higher. Cauliflower has been hard to find (seasonal) and a little dear, along with snap beans (totally gone for a while now). A bell pepper (パプリカ) I got today was from Holland, and usually they're from Korea. Got a decent avocado for dinner, priced as normal, ¥198, but later at another store saw them for ¥138, tho they felt too green/firm.

Some things like our selection of fish, and chicken, seem to be priced as normal. Rice is my wife's duty, since she has strong preferences for what is okay. I've heard/read that prices are up, but haven't heard that from her.
 
It seems that America is not the only one facing inflation. Makes me wonder if Joe Biden is also the prime minister of Japan, just pulling the things from behind.
 
derekiscool said:
It seems that America is not the only one facing inflation. Makes me wonder if Joe Biden is also the prime minister of Japan, just pulling the things from behind.
Click to expand...
Contrary to all the rhetoric, the President does not have a whole lot of influence on the economy. At least not immediately. There are many more factors at play. Of course their policies can play out over time like the Reagan disaster.
 
derekiscool said:
It seems that America is not the only one facing inflation. Makes me wonder if Joe Biden is also the prime minister of Japan, just pulling the things from behind.
Click to expand...
Americans think everything is about them, that they're the only people in the world, or the only ones that count, unable to realize that things happen in the world over which they (and their president) have almost zero control.

They also whine and complain, blaming things they don't like (inflation) on others, like the president/other party--or attribute it to a conspiracy--while on the other hand for things like wage gains, it's "nope, I did that".
 
Politics today is a nightmare to follow. We have been taught not to believe the media. Then anything one party doesn't like , they claim it's propaganda from another country. Everyone claims their party is the one of truth and the best to make our lives better. Facebook is a major battle ground for politics and I get sucked into the battle , LOL. I would love to see the financial records in great detail as it seems they are the only ones getting rich. With the candidates running for President & Vice President , it seems their positions make no difference with Congress and the Supreme Court really running the country. Hopefully life will be OK with no matter what happens or who wins here. I do hope WWIII never happens while I'm still alive. SO....being totally confused by it all , I just shake my head and take a wait & see attitude.
 
There is a word for that. USians for Americans.us as in the word us rather than the letters u and s.
 
derekiscool said:
It seems that America is not the only one facing inflation. Makes me wonder if Joe Biden is also the prime minister of Japan, just pulling the things from behind.
Click to expand...
Inflation has been a worldwide problem over the last few years. Claiming that inflation in the US is due to Joe Biden doesn't really stand up, as mdchachi said, and claiming that Joe Biden is somehow pulling the strings regarding company decisions to increase prices in Japan is nothing short of conspiracy. If you have an argument that he is behind Japan's inflation, then give it, but don't hide behind weasel words such as 'I wonder' - it cheapens the discussion.
 
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Oh okay. I'll just email our president to withdraw our forces from japan since you obviously don't like Americans.


Xenophobic/racist much?



ALSO…



America deserves just as much respect (if not more) than any other country in the world. Look at our relatively short history and all of the achievements we made. Who created air conditioning? Oh thats right. The Americans. Who beat the British with a make shift army of farmers? Oh that's right. The Americans. Who ended WWII? The Americans (nuking japan). Who created the first atomic bombs? Oh yeah, the Americans. Who fought for black rights FIRST? Oh yeah. Martin Luther King Jr. Who landed on the moon first? The Americans. Who has the most allies in the world? America. Who protected Afghanistan from the Taliban? The Americans. Who did the most damage in WWII? America. Who has the strongest navy? America. Who has the biggest and strongest Air Force? America. Who forgave the Japanese for destroying our naval base for no reason? The Americans. Who was the first to help South Korea? The Americans. Who is Japans biggest ally? America. Who protects Japan? America. All this and more is more than enough reason to respect America. Most people only look at the bad things about America (cough you cough) and don't really consider the good we've done to the world.


Maybe you'll think twice before you diss America again.
 
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I legit wonder. You think i know anything about Japanese inflation!? I'm just a fourteen year old kid!!! I can barely even keep straight A's! I'm just throwing things around to get other peoples insight on it.
 
Inflation is a rather complex topic. If the materials/ingredients/labor/etc. that combine to form products goes up in cost due to lack of supply, etc., companies will naturally raise their prices to pass the added cost to the consumer. If the money supply grows faster than the economy grows, that money has to find a home. The end result is that prices tend to go up as the expanded money supply chases a proportionally smaller amount of goods.

Does the president or prime minister control inflation? No, that is not their role in society. They can influence policies that have an effect on inflation, such as fiscal stimulus or tax increases, but those policies must be voted on by legislative bodies. Presidents and prime ministers do not rule by fiat. Fiscal stimulus adds money to the economy, thus encouraging inflation. Income tax increases take money out of the economy, thus discouraging inflation. Central banks also play an important role in inflation, largely through control of interest rates, bank reserve requirements, and more recently quantitative easing and tightening. Although tariffs are a tax, from the seller's point of view they are an added cost that can be passed on to the consumer, so in that sense they encourage inflation.

I personally think that the recent bout of inflation in the USA was brought about by supply shocks and labor shortages due to Covid-19 and various governments' policies to address that combined with the effects of the war in Ukraine. I wouldn't blame Trump nor would I blame Biden directly for the inflation. It would have happened regardless of who was/is president.

However, in an election year, it's a convenient topic to raise to rile up voters and get out the vote.
 
I'm a lil steamed right now at @johnnyG please tell me your not responding to me.
 
We do have an infraction system here and we may have to pull it out for you. You are the one that is exhibiting unacceptable behavior by calling people names and assigning labels. You are also showing an woefully incomplete understanding of history.
derekiscool said:
I'm just throwing things around to get other peoples insight on it.
Click to expand...
Then stop making pronouncements about things you know almost nothing about. Some of them are just downright ignorant or illogical. For example, you think MLK just all of a sudden sprouted from nowhere and was the first? There is a long list of Civil Rights leaders. The best one to debunk your statement is probably W.E.B. du Bois. Look him up.
 
I wish i could show you the 100% i had in history through my entire schooling up until this point (I don't have history this year)
 
If the topic of inflation generally interests you, I would recommend the book "We Need to Talk About Inflation" by Stephen D. King. (Not the horror novelist! The economist....oh, yeah, same thing...lol)

9780300270471 - AbeBooks

We Need to Talk About Inflation: 14 Urgent Lessons from the Last 2,000 Years by King, Stephen D. and a great selection of related books, art and collectibles available now at AbeBooks.com.
www.abebooks.com
 
It's not interesting, but its fun to argue about
 
derekiscool said:
It's not interesting, but its fun to argue about
Click to expand...
Too bad. I really enjoyed that book. The author is British, and he has an amusing writing style. It was this book that got me to start calling the decade of 2000 to 2009 the "naughties".
 
Mikawa Ossan said:
Too bad. I really enjoyed that book. The author is British, and he has an amusing writing style. It was this book that got me to start calling the decade of 2000 to 2009 the "naughties".
Click to expand...
I guess I'm not a "naughty". I was born in 2010!
 
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