News Price increases in Japan

[thomas]

Stock up as long as you can. According to a survey conducted by Teikoku Databank Ltd., over 10,000 food items in Japan will experience price increases of an average of 13 per cent this year as a result of rising materials costs and the yen's rapid depreciation.

Alcoholic beverages and other drinks will see the largest price hikes at an average of 15 percent due to rising costs of wheat and plastic bottle packaging, according to the survey. Over 80 percent of the products will have their price increased in July or later. Prices of processed foods, which account for 40 percent of products to see a price hike, will rise by an average of 14 percent, while sweets will rise by an average of 12 percent, seasonings 11 percent and bread 9 percent, the survey showed. The research firm said it is highly likely companies unable to absorb rising materials and production costs with the current price revisions will raise prices again within the year, with it describing price increases as moving at an "unprecedented pace."

Over 10,000 food items in Japan to see price hike in 2022: survey - The Mainichi

TOKYO (Kyodo) -- Over 10,000 food items in Japan will experience price increases of an average 13 percent this year as a result of rising materials co

mainichi.jp

It's funny to see how Japanese news programmes every day describe each food item affected, from chocolate to mayonnaise.

Edible oil and mayonnaise prices have risen 14% and 13%, respectively, in April compared with January 2021. Manufacturers announced price hikes for many edible oil and mayonnaise products a number of times, citing steep increases in the costs of soybeans and other commodities along with higher distribution costs. Nissin Foods Holdings will increase the prices of its main cup noodle and bagged noodle products. The suggested pretax retail price of its cup noodles will rise to 214 yen ($1.67) from 193 yen, up nearly 11%. Confectionery maker Morinaga will raise prices on 11 ice cream products -- nearly 20% of its ice cream lineup. The suggested retail price of its "Choco Monaka Jumbo" product will go up by 10 yen to 150 yen.

Japan braces for further consumer price hikes starting June 1

From mayonnaise to gas, 8,000 items to cost more in 2022 amid stagnant wages

asia.nikkei.com

 

[thomas]

According to BOJ Gov Kuroda Japanese are becoming more tolerant of rising prices. As if they had any choice.

One question in the polls taken in August last year and in April this year asked the respondents what they would do if their favorite stores increased prices of their favorite products by 10 percent. Kuroda noted that while more than half of the Japanese respondents said they would switch to other stores in August last year, significantly fewer said the same thing in the April poll. "The level of tolerance toward price rises is increasing among Japanese households," he said. He said the reason for the heightened tolerance was that Japanese have accumulated savings during the COVID-19 pandemic, although he added that it was a hypothetical view. The comment sparked a huge backlash on social media.

BOJ governor: Japanese now more tolerant of higher prices | The Asahi Shimbun: Breaking News, Japan News and Analysis

Meanwhile, the JPY fell to a 20-year low against the USD:

Yen falls to fresh 20-yr low at 133.00 vs. US dollar in Tokyo - The Mainichi

TOKYO (Kyodo) -- The Japanese yen fell to a fresh 20-year low against the U.S. dollar Tuesday, briefly touching the 133 line, on expectations that the

mainichi.jp

 

[Grandpa Frank]

I'm nervous about more empty shelves because of rising diesel fuel prices here in the US. Almost everything comes by train or trucks that run on diesel. I try to have a 3 month supply of everything I can stored in my cellar. I don't mind too much about rising prices , but worry about supply issues.

 

[Lothor]

According to BOJ Gov Kuroda Japanese are becoming more tolerant of rising prices. As if they had any choice.

BOJ governor: Japanese now more tolerant of higher prices | The Asahi Shimbun: Breaking News, Japan News and Analysis

Meanwhile, the JPY fell to a 20-year low against the USD:

Yen falls to fresh 20-yr low at 133.00 vs. US dollar in Tokyo - The Mainichi

TOKYO (Kyodo) -- The Japanese yen fell to a fresh 20-year low against the U.S. dollar Tuesday, briefly touching the 133 line, on expectations that the

mainichi.jp

That idiot's living in an ivory tower.

I'm sure it is true that people in Japan are more tolerant to price rises - if my local Indian restaurant increases the price of a takeaway from 600 yen to 700 yen, I'll sympathise with the owner because I know that the cost of the ingredients and fuel has gone up a lot. However, there's a world of difference between accepting the reason for price increases and having to cope with them if you have a low and stagnating income and high outgoings.

 

[johnnyG]

Like imported cheese could be even more expensive?!?

 

[mdchachi]

Like imported cheese could be even more expensive?!?

Now's the time to switch to a native diet if you want to save money. natto & gohan.

 

[johnnyG]

A while back I knew fellow, foreign part timer where I was working--in the cafeteria he'd get the big bowl of rice, and load it up with either fukujinzuke or shiso/umeboshi (both freebies).

 

[thomas]

The BBC on Japan's rising prices and their impact on Japanese society.

Interesting comparison of annual average wages:

Cost of living: The shock of rising prices in Japan

Why making Japan's favourite snack more expensive was so controversial it prompted an ad campaign.

www.bbc.com

 

[musicisgood]

One thing we will notice if you eat it is can fish coming out of Thailand. I do eat a lot of their sardines for 100 yen. But now stocks are less and when the new orders come in soon, I expect to see a 30% increase of price.
I heard that bananas of the Philippines will increase since the labors there are fighting for higher wages. Good by to the 99 yen bananas at Cosmos.

 

[Majestic]

Japan is finally getting their long-awaited inflation.
Somehow, it doesn't seem to making anyone happy.

 

[Majestic]

I should add, inflation in America and the ever sinking stock-market, is starting to cause real problems.
A news article yesterday showed Americans owe $22 billion in delinquent utility bills.

Americans owe $22 billion in late utility bills as energy prices spike 34%—here's where you can find help

If you're one of the millions behind on your utility bill, these resources can assist.

www.cnbc.com

 

[Grandpa Frank]

The homeless problem is growing crazy out of control. Even here in Maine , our hotels are overflowing with the homeless and housing & feeding them is costing a fortune to small towns and local government. No one seems to have a good solution and throwing more and more money at it just adds to the inflation issue. I hope our country doen't crash like things in Venezuela did.

 

[thomas]

And now seafood, too: kamaboko prices have increased by 8 per cent, sea urchins, sockeye salmon, and Alaska pollock eggs, imported from Russia, are now subject to higher tariffs.

Japan's seafood prices continue to climb on supply issues and weak yen

Several of Japan’s leading fishpaste product manufacturers raised prices beginning in February, and may have to do so again.

www.seafoodsource.com

 

[Grandpa Frank]

Things keep going the way they are , I might be eating these guys instead of feeding them , LOL.

 

[Mansoor]

LOL

 

[johnnyG]

Well, the other thread... maybe it's time to start eating critters and crawlers.

 

[johnnyG]

View attachment 87794 Things keep going the way they are , I might be eating these guys instead of feeding them , LOL.

I thought you were in Maine, not Indiana.

 

[Grandpa Frank]

At one time I had 18 gray squirrels I was feeding. Then they decided to live in my car engine area and store their peanuts there.(don't drive it much) I went to drive it and all the warning lights came on at once. Turned out the little brats were eating my car wireing. It cost me $2000US to have it all rewired and now they can all starve , no more food in my yard , LOL.

 

[IronDove]

The BBC on Japan's rising prices and their impact on Japanese society.

Interesting comparison of annual average wages:

UK: 1990 ($38500) to 2020 ($47000)
Bruh I just done the math on that. $47000=£39000 which is what i would take home working 2 jobs full time :F

 

[Mansoor]

As Mr.Thomas pointed out, storing food is an opportunity before raising the price of food, but it is not a continuous alternative. The only advantage of this storage is saving a little money for a short time. Nevertheless, for those who want to get rid of worry is usable.

Increasing the price of food or other kinds of stuff is not particular to Japan, and this problem will show itself in all countries.

As I see, nothing is fixed in its place. The world economy is not harmonious, and nothing is predictable in this aspect. In this condition, there are three types of countries in the world:
1- industrial countries
2- The countries with the considerable petroleum reserves
3- the poor lands that neither are industrial nor have enough petrol mines.

It is overt that the countries in class 3 have the worst condition in the recent global economic crisis, and their people are needful of the international financial aid.

Nevertheless, the economic problems are not particular to the poor countries, and the people of some of the industrial lands will encounter the difficulties gradually due to the need of their countries for oil and increasing the oil price with the sharp changes in the present time.

I don't have a positive look at the future for better economic conditions in the world. The people of the world (except the wealthy people) are experiencing meeting the ugly face of need and uncomfortable living.

 

[Lothor]

View attachment 87798

LOL

Mansoor - how are things in Iran? I heard that Middle East countries are heavily dependent on grain from Ukraine. Have you experienced price increases?

 

[thomas]

Now's the time to switch to a native diet if you want to save money. natto & gohan.

Make that wheat, not gohan. (I'm glad sake rice is not affected).

"An increasing number of farmers are switching to wheat and soybean productions as their global prices are surging," a ministry official said, adding that demand for such crops produced in Japan has already been strong. Currently, 80 percent of the wheat and 90 percent of the soybean used and consumed in Japan is imported, and their prices have increased sharply as Russia and Ukraine are their major producers. In contrast, the consumption and price of rice in Japan are on a downtrend since fiscal 1962 as dietary lifestyles diversify and the population decreases. The coronavirus pandemic has further slashed consumption due to the low demand from restaurants, whose operating hours were restricted. Among the 47 prefectures, none had plans to expand the production of cooking rice, while 10 said they will produce around the same level as the previous year. Of the 37 prefectures that will reduce rice production, three including Hokkaido, a major producer in northern Japan, said production will decrease by more than 5 percent than a year earlier.

High grain prices prompt Japanese farmers to grow wheat rather than rice

More Japanese farmers are planning to lower their rice production and switch to wheat and soybean this year amid rising grain prices caused by Russia's war in Ukraine, according to a government survey. Among Japan's 47 prefectures, 37 said as of the end of April that they will reduce cooking…

japantoday.com

Definitely the right step toward food self-reliance.

 

[Mansoor]

Mansoor - how are things in Iran? I heard that Middle East countries are heavily dependent on grain from Ukraine. Have you experienced price increases?

We have had a part of the problems that the majority are due to the unfair and baseless economic sanctions of the White House and inevitably Europe versus Iran for over 14 years!

Without any exaggeration or nationalism feeling, I have to say we are the heroes who tolerated these smashing pressures during this long time! During this period of time, some people with a lower income (among me) hadn't a comfortable living, nevertheless the western economic sanctions could not affect the governmental system of Iran much. Many of our industries, like the automobile industries, continued their productions and some small ones encountered problems which the government helped them financially to go back to production line.

Our close friend China didn't participate in the western economic sanction and didn't leave us alone in the difficulties. I give thanks for its justice and logical government. During these difficult years, it purchased oil from Iran orderly and sent every necessary stuff to our country.

Russia was the second friend that supported us in the hard economic sanction situation politically and transactional. Russia even supported the militias of Iran in fighting with the Daesh (ISIS) terrorist groups in Syria by air support attacks.

These days dearth annoys the ordinary people more than in the past but the government is naturalizing the pressure with an organized financial aid to the people and controlling the prices. The government supervises the markets and has obligated them not to increase the fee of the necessary stuffs, out of a fair profit.

 

[Lothor]

Make that wheat, not gohan. (I'm glad sake rice is not affected).

High grain prices prompt Japanese farmers to grow wheat rather than rice

More Japanese farmers are planning to lower their rice production and switch to wheat and soybean this year amid rising grain prices caused by Russia's war in Ukraine, according to a government survey. Among Japan's 47 prefectures, 37 said as of the end of April that they will reduce cooking…

japantoday.com

Definitely the right step toward food self-reliance.

It's a good start, but the government could have been smarter by encouraging farmers to grow crops for humans rather than for animals. Part of the cause of the tight food supply is that people are eating too much meat and dairy, which require much greater use of crops than if the crops were directly eaten by humans.

 

[Lothor]

We have had a part of the problems that the majority are due to the unfair and baseless economic sanctions of the White House and inevitably Europe versus Iran for over 14 years!

Without any exaggeration or nationalism feeling, I have to say we are the heroes who tolerated these smashing pressures during this long time! During this period of time, some people with a lower income (among me) hadn't a comfortable living, nevertheless the western economic sanctions could not affect the governmental system of Iran much. Many of our industries, like the automobile industries, continued their productions and some small ones encountered problems which the government helped them financially to go back to production line.

Our close friend China didn't participate in the western economic sanction and didn't leave us alone in the difficulties. I give thanks for its justice and logical government. During these difficult years, it purchased oil from Iran orderly and sent every necessary stuff to our country.

Russia was the second friend that supported us in the hard economic sanction situation politically and transactional. Russia even supported the militias of Iran in fighting with the Daesh (ISIS) terrorist groups in Syria by air support attacks.

These days dearth annoys the ordinary people more than in the past but the government is naturalizing the pressure with an organized financial aid to the people and controlling the prices. The government supervises the markets and has obligated them not to increase the fee of the necessary stuffs, out of a fair profit.

Mansoor - Thanks very much for the informative post - I'm glad to hear that the government has been looking after its population and that the situation isn't too bad. As you know, I have always been against the sanctions imposed on Iran by the US and Europe.