‘People are angry’: Japan braces for a new unknown – prolonged inflation
Japan is grappling with a significant rise in the cost of living, as supermarkets prepare to increase prices on thousands of essential goods by an average of 16% this month. This marks a departure from decades of deflation, pushing the nation into unfamiliar inflationary territory and impacting consumers who have long enjoyed stable or declining prices.
The price hikes, affecting at least 2,343 food and beverage items by the end of March, are driven by several converging factors, including rising raw material costs, a weak yen, and increased logistics and labor expenses. While government subsidies have helped to mitigate the impact on households, these measures are now being phased out, leaving shoppers to directly face the rising costs.
via SCMP Full Text Feed
Japan is grappling with a significant rise in the cost of living, as supermarkets prepare to increase prices on thousands of essential goods by an average of 16% this month. This marks a departure from decades of deflation, pushing the nation into unfamiliar inflationary territory and impacting consumers who have long enjoyed stable or declining prices.
The price hikes, affecting at least 2,343 food and beverage items by the end of March, are driven by several converging factors, including rising raw material costs, a weak yen, and increased logistics and labor expenses. While government subsidies have helped to mitigate the impact on households, these measures are now being phased out, leaving shoppers to directly face the rising costs.
via SCMP Full Text Feed
