The Ministry of Internal Affairs and Communications announced on the 18th that Japan’s nationwide Consumer Price Index (CPI) for June, excluding fresh food, rose to 111.4, marking a 3.3% increase from the same month last year. While the growth rate slowed by 0.4 points compared to the previous month, it remains above 3%. The rice category saw a 100.2% increase, marking a slowdown for the first time in 23 months since July 2023.
For the past eight months, the growth rate for rice had been at an all-time high but stopped this month for the first time in nine months. Even though government-distributed rice from stockpiles, sold since the end of May, is not included in the CPI survey, it has reportedly helped lower overall rice prices.
The overall index, excluding fresh food, has been positive for 46 consecutive months, though its growth rate has shrunk for the first time in four months. Thanks to increased government subsidies for gasoline, gas prices dropped by 1.8% year-over-year, and the rise in electricity and city gas costs also slowed compared to the previous month.
Excluding fresh food, food prices increased by 8.2%. Rising rice prices have affected the cost of onigiri (up 19.1%) and sushi at restaurants (up 6.5%). Additionally, coffee beans from Brazil saw a substantial price increase of 40.2% due to reduced shipments.
by MagazineKey4532