Japanese rice prices pump 17%: the largest increase in nearly 20 years, continuing to burden households

On August 24th, Jinshi data reported that according to the Japan Ministry of Internal Affairs and Communications, the consumer price index for rice in Japan in July rose by 17.2% compared to the same period last year, marking the largest increase in nearly 20 years. The hot summer in Japan in 2023 caused rice to be damaged by high temperatures, resulting in a decrease in supply and demand and a rise in prices. Related products such as rice balls and senbei were affected and prices rose. In addition, Japan’s electricity prices rose by 22.3%, the largest increase in 43 years. Rising prices have continued to increase the financial burden on households. Excluding fresh food, the consumer price index in Japan in July was 108.3, with a rise of 2.7%. The increase has been increasing for 3 consecutive months.