TOKYOAug. 23 (Japan News) – The Ministry of Internal Affairs and Communications announced that Japan’s consumer price index (CPI) for July rose 2.7 percent from the same month last year. This excludes fresh food due to price volatility.
This is the 35th consecutive month of growth. It is the third consecutive month of growth since May.
One of the contributing factors is the significant increase in energy prices, which rose sharply after government subsidies for electricity and gas were temporarily stopped.
In addition, food prices have continued to rise. Notably, the price of rice, excluding Koshihikari, rose 18% year-on-year, driven by a decrease in supply caused by the extreme heat of last summer and an increase in demand from the food industry.
In addition, the price of senbei (rice crackers) rose by 16.1% due to the rising cost of rice and other raw materials.
Source: ANNE
