Japan to see price hikes on 35,000 food, drink items by end of 2023

What a dire economic policy Japan has!

High food prices and taxed to boot-is that the life being sucked out you?

I thought so…

Japan govt's new capitalism is finally working, people will having difficulty just to buy daily items while expecting tourist spends tons of money expecting that Japanese economy will eventually improve.

This article has no meaning if you don't mention the percentage of the price increases.

ldp "geniuses" politics in action,dont forget to vote for these crooks again.

As GDP in Japan has been almost not rising for the past 20 years, GDP per capita was left behind by South Korea last year , Taiwan

So I wish this price hike make the trigger to Japan economic growth

In order to make it happen, I want Japanese government to urge mid-small business to rise wage

This is very very hard, though

The vending machines are getting ridiculous. The one near my place was 100 yen in December. It now is 160 yen. I’m 100% sure the price of drinks did not go up 60% and this is 100% price gouging the Japanese consumers.

Suddenly we will land unexpectedly in communism. Or how do you call it, when everyone has almost nothing left, if something left then can’t buy due to delivery chain distortion, and the very few that still have some money are the political and economy leaders in a de-industrialized new era? That’s surely communism, not new capitalism, because every capitalism would require maximum growth in all sectors, not only those growing prices and tons of printed money in a few hands, no, growing income, growing births, education efforts, growth in innovations, global sales, fair distribution of the surplus, growth in expectations and future hopes, a new bubble economy so to say, that’s what would be a new capitalism.

As I stated in a previous article about price hikes.... Please share the items that are NOT going up!

Need to cut back even more.

That’s surely communism, not new capitalism

Please look up "communism", you absolute salad.

Interestingly there was no wage increase this spring, citing global recession. So earn same spend more - is new strategy of corporate controlled J Govt.

Interestingly there was no wage increase this spring, citing global recession. So earn same spend more - is new strategy of corporate controlled J Govt.

Uh, maybe you should check yourself

kurisupisu

What a dire economic policy Japan has!

High food prices and taxed to boot

Food or any commodity price is not a part of government economic policy (except in communist countries) their prices are driven by the market.

Tax however is, Japans tax take as a percentage of GDP is about 33%, a bit high but not excessive or damaging.

Without the % price increase the article doesn’t allow any comparison though the psychological impact in Japan is inevitably going to be greater as people are used to deflation not inflation.

Just as a personal comparison, food prices are being affected world wide; the rapeseed oil I buy has jumped by 100.6% in the last year and a half

Pure greed

save my money

Every company and product will be trying to increase prices, at least those of publicly traded companies. doesn't matter if they are affected by imports or not. It's currently a great time to get away with price increases without it getting any individual backlash while also being able to keep their customers as people have gotten used to the constant price increases. If it doesn't work out as expected they can just market it as a price decrease and get a boost.

All the combini store in Japan must be like oh yeah let’s triple the price on the rice ball as they all calap and jump around with happiness

 a great time to get away with price increases without it getting any individual backlash while also being able to keep their customers as people have gotten used to the constant price increases

exactly but the opposite should be happening. People should be complaining and doing something about it rather than say “shoganai ne”

Poverty is on the rise where are the projects and slums of Japan where it’s cheap to live?

Bring it on, people are already getting use to cutting back on waste like a NEW Phone, Car, TV, Washer, Fridge, Tires, Insurance, NHK membership, and so on.

Many stores including 7-11, and Famimart, are already keeping the same price but reducing qty. or volume which I think is very smart.

It’s not really smart, it’s shrinkflation, which companies have been doing around the world for decades.

@mark lol please enjoy your tiny miniature piece of sandwich at 7/11 that reduced size and costing near 500 yen. That’s called a rip off. And them being smart to make you buy.

The one thing that everyone cannot live without is food so they can increase the price all they like if people are starving they are going to buy it .and that is the real definition of weaponizing food against your own country and forget about comedian zelnsky definition

Time to get some mates rates deals on energy from Mother Russia to compensate. Abiding by the US overlords gets us nowhere. Do what is best for Japanese interests.

That's what the consequences of voting the "L.D.P." by ordinary Japanese people, your naivety brought you a very difficult life and hardships !

I went to the combini and bought a pack of chocolate biscuits-I don’t remember eating them, that’s really annoying…

Labor costs?

That is false

Some people like to believe that Japan has fallen because Koreans and some Japanese have been surpassed by South Korea and Taiwan in per capita GDP.

However, a closer look at the numbers reveals a different side. It is a figure obtained by dividing the gross domestic product by the population of the country, and this figure includes debt, and it is an index that is completely different from the size of the country, with Luxembourg in the first place and Ireland in the second place.

And there are people who say they were overtaken by South Korea, but Japan is currently ranked 31st, South Korea 34th, and Taiwan 33rd, so they have not been overtaken yet. For reference, Russia is 63rd and China is 68th.

In addition, the household financial assets of ordinary households in Japan are 2 trillion dollars, which is one of the largest in the world (9th in the world). Some people say Japan is a big debt country, but the fact is that Japan's net debt to GDP ratio is only 18%, lower than the G7 average.

By the way, South Korea's household debt is 1.7 trillion dollars, which is the worst in the OECD.

If the housing bubble bursts in the future, it is expected to increase further.

The Korean government's debt exceeds at least $1 trillion, and the net debt ratio of the Korean government reaches 115%.

Conversely, Taiwan's semiconductor industry will continue to drive the economy, and per capita GDP will undoubtedly surpass Japan and South Korea for the first time.

Then, what is the problem in Japan? Taxes will go up and wages of general companies will not be raised. Japan's average income has not risen at all since the late 1980s after the collapse of the bubble economy.

What the government has to do is cut taxes. If you tell general companies to increase personnel expenses, they will not comply, so you should increase corporate tax and reduce taxes on individuals using that as a financial resource.

I’ll tell you one way to save money is if possible use the supermarket instead of convenience stores. You will immediately save at least 20% although wait lines may be longer.

Save a ton of money shopping in Gyomu or Costco.

@wallace: Easier said than done if you live in Tokyo, both Gyomu and Costco are where most of us would have to make a trip to at the weekend, and Costco with a car. Working life 9-7 in Tokyo is very different to living where you are and with your lifestyle. Costco for me would be a weekend 'excursion' involving an hour waiting to park and awful traffic both ways. You ARE right, but not thinking of the practical side. And before you prattle on about my wife, she works too. Both of us are generally too tired to cook at night, as you would be if you were doing my job.

Funny how when a Japanese yogurt drink company or toothpaste manufacturer has a 2% price increase, the board of directors goes on camera giving a deep and shameful bow to the honorable customers, but then JR raises the price of a Japan Rail Pass by 70% (hundreds of dollars) in one fell swoop and nobody says a damn thing.

@CaptDingleheimer: I've pointed this out before. The last price revision of the JR pass was when $/Yen was 90. It has been a misprice for many years. As residents we can't buy one and $/Yen is now hovering between 135-145. A short sighted opinion. The new price isn't that bad if used effectively.

theResident

@wallace: Easier said than done if you live in Tokyo, both Gyomu and Costco are where most of us would have to make a trip to at the weekend, and Costco with a car. Working life 9-7 in Tokyo is very different to living where you are and with your lifestyle. Costco for me would be a weekend 'excursion' involving an hour waiting to park and awful traffic both ways. You ARE right, but not thinking of the practical side. And before you prattle on about my wife, she works too. Both of us are generally too tired to cook at night, as you would be if you were doing my job.

So why did you even respond to my post?

Then for once, it seems like I have the advantage over you. The nearest store is just a 20-minute drive or a short bus ride.

Pork Belly, enough for 4, ¥900. 20 Japanese chicken legs ¥500. Half a frozen chicken for ¥400. 5 slices of Japanese beef for Shiyaki ¥700. 3 large jars of French mustard, ¥250 each.

There are many Gyomu in Tokyo. Many near to stations.

You think you are the only one who works sony.

I have worked for decades and cooked the dinners and baked the bread.

Then for once, it seems like I have the advantage over you. The nearest store is just a 20-minute drive or a short bus ride.

What a chore just to shop.

 You do indeed have an advantage. I however, do not wish to see my days out living in the Inaka baking bread and potting jams.

And screaming at the clouds.

Gyomu prices are indeed very low. Sadly, the two that were near me closed due to excessive rent increases.

We talk about GDP per capita etc a lot, but the real way to measure something should be quality of life. I just got back from Sweden. My brothers have ordinary jobs, I make around 3 times more than either of them, they have big houses 200m2 plus, building pools etc, multiple kids, while I live in a 90m2 apartment not even considering having more than one kid. If anyone were to compare our lives, nobody would probably thing that I was the one earning the most. Even really rich people in Japan don't really look like they have very luxury lives, a ２億 house in Japan no matter the location looks like a 5 千万 house in Sweden. Then adding 1 month plus summer vacation etc and all other benefits I really start to wonder what I'm doing here.

Food or any commodity price is not a part of government economic policy (except in communist countries) their prices are driven by the market.

Got to disagree.

Food has to be part of any governments’ policy.

What are taxes on food consumption if not ‘economic policy’ ?

Also…

After any type of disaster, governments that can ,always supply food to the victims.

People dying of neglect make for very bad press.

As to rising prices, I would agree that global market prices do have an effect but prices can be manipulated by increasing or decreasing supply which ‘greed’ not supply inefficiencies have dictated in both energy and food.

Massive company profits in recent years show us that fact to be true

How many times does the food prices go up?

My salary doesn’t go up 3 or 4 times a year. I would be rich by now.

Save a ton of money shopping in Gyomu or Costco.

Only stated by someone who is unaware of the reality of life and living in Japan.

Non-Keynesian economists have been warning of the eventual effects of loose monetary policy for decades. What we are seeing, beginning to see, is the result of MMT, which Abenomics is a clear example. It's a race to the bottom. Of course, the politicians, all of them, are impervious as they live off the public coffers and their ancestors' wealth.

Reading Hayek's "Road To Serfdom" makes it easy to understand.