Graphic Truth: Japan’s Rice Price Explosion

One of the major factors that pushed Japanese Prime Minister Shigeru Ishiba to resign over the weekend was inflation. Although Japan’s headline figure of 3% may not seem all that high, the country had grown accustomed to rates at or below 1% between 2012 and 2022. What’s more, the headline figure masks soaring prices for a major staple Japanese food: rice. The cause? Extreme heat in 2023 and an earthquake last year spurred major supply shortages. Here’s a fine-grain look at rice price trends over the past year.