On September 24, 2024, the worker handles the bags of brown rice at the Shinmi Coam plant in the Kaguti, Japan’s Saitama Prefecture. Farmers are expected to start filling the shelves of Japan’s supermarkets as soon as they harvest their new crops, although farmers will harvest their new crops, although the high prices will be supplied. Ographer: Kioshi Ota/Bloomberg by Getty Images
Bloomberg | Bloomberg | Getty pictures
Rice prices in Japan Doubled in May.
The massive spike followed an increase of 98.4% in April, and March rose by 92.1% per year.
There are rice prices in Japan In the spotlight Nowadays, the government has released emergency inventory to increase the price of the country’s main food.
Paddy prices rise as the main inflation rate of Japan rises to 3.7% in May, indicating its highest level since January 2023.
This figure is exposed to fresh diet – Reuters voted is higher than the 3.6% expected by the vote of voting and it is higher than that of April 3.5%.
Title inflation is 3.5%, reduced compared to 3.6% in April. This indicates the 38th consecutive month that inflation is higher than the 2% target of BOJ.
Known as the “core-core” inflation rate, it eliminates fresh food and energy prices and closes closely from BOJ, rising from 3% to 3.3% in the previous month.
JP Morgan’s Asset Management’s global market technician Marcella Chow noted that there are about 50% of Japan’s major inflation rice, and future inflation trends are highly dependent on food prices, especially rice.
Chow CNBC told CNBC that the recent measures of the government to reduce the price of rice could increase the cost of home in the real economy, “If these cuts are expanded to rice -containing processed foods and are the lowest restaurant price.”
Separately, Newburger Burman’s Portfolio Manager Ki Okamura said the number of inflation was not unexpected if food prices were on the rise.
“Over the next several months, we should see the deterioration of these price pressures from food items,” he said in CNBC “Squack Box Asia“.
He said increasing geographical political tense in the Middle East could affect energy prices.
The number of inflation comes as a central bank Rates are 0.5% After its financial policy meeting early this week, even though it said it Statement This passes a wage increase for sales prices, which increases major inflation.
War Livestock It was reported that in Japan’s parliament last week, it was reported that “inflation approaches 2% or hovering at that level,” reported that it increased central bank rates. ”
However, the bank is forecast that inflation is expected to move forward, saying, “CPI inflation may be slow, mainly due to the decline in the economy.”
Separately, Japan’s GDP also shrunk by 0.2% During the quarter ended March Compared to the previous period of exports, the economy was compressed on the basis of a quarter of a year.
