April 20, 2024
In March 2024, food prices in Japan increased by 4.8% compared to the same month the previous year. The most recent result was the lowest since September 2022, despite the fact that food inflation has been occurring for 31 straight months. The cost of dairy products and eggs was 6.2%, down from 8.7% in February; meats were 2.4% and 2.6%; fish and seafood were 1.5% and 2.1%; cereals were 6.3% and 6.6%; alcoholic beverages were 2.6% and 3.2%; cooked food was 4.7% versus 5.6%; cakes and candies were 8.8% and 9.6%; and meals outside the home were 2.6% and 3.0%. For oil, fats, and spices, inflation remained constant at 3.9%, but costs increased for fresh fruits (12.1% vs. 8.3%), fresh vegetables (7.1% vs. 2.6%), and beverages (4.5% vs. 3.8%).
Source: Trading Economics
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