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Graphic Truth: Japan’s Rice Price Explosion

Graphic Truth: Japan’s Rice Price Explosion
Eileen Zhang
Senior Writer
https://x.com/zac_weisz
https://www.linkedin.com/in/zachary-weisz-2ab852119/

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.