Inflation accelerates in Japan after rice prices double
cross-posted from: https://lemmy.zip/post/41844109
In May, Japan's core inflation rate, which excludes volatile fresh food prices, hit 3.7 percent -- its highest level since January 2023 -- interior ministry data showed.
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Comments6
When the simplest staple foods double in price, you know shit's gonna get fucked.
Japan ain’t gonna be cheap no more!
It's only been cheap for foreigners because our wages have stagnated for decades. If I didn't get paid in USD, I probably would have starved to death years ago.
FWIW, USD wages have also stagnated for decades.
Japanese rice prices are a weird combination of inflation, panic buying, inefficient farming, and a bureaucracy managing it all that actively wants rice to be more expensive. This video has a really good explanation of it.
https://youtu.be/l4vTQV3HjKU
This is an entirely self-inflicted and avoidable crisis