Japan: Soaring Food Inflation Likely to Curb Consumer Spending
Link to report:
Japan continues to confront elevated levels of inflation on food and beverage products as prices experienced the fastest pace of increases since 1991. Inflation, coupled with a weakened yen, has left producers with no alternative but to pass on price increases to consumers. Among the 217 products included in the daily consumer price index, more than one-fifth of food related products experienced price increases. As Japan’s recovery from the global pandemic continues, food inflation may drive consumers to opt for cheaper foods and beverages to reduce household consumption costs.
