Rice prices double in Japan as inflation accelerates

The price of rice doubled in Japan in the 12 months to May, data showed on June 20, as an acceleration in inflation piled fresh pressure on Prime Minister Shigeru Ishiba ahead of key elections in July.

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TOKYO — The price of rice doubled in Japan in the 12 months to May, data showed on June 20, as an acceleration in inflation piled fresh pressure on Prime Minister Shigeru Ishiba ahead of key elections in July.

Polls for Parliament's Upper House are crucial for Mr Ishiba after public support for his government tumbled to its lowest level since he took office in October, partly due to frustration over the cost of living.

One of the main sources of anger has been the surging cost of the food staple, which has rocketed for months owing to shortages caused by a variety of reasons, including supply chain snarls.

The price of the grain rocketed 101 per cent year-on-year in May, having jumped 98.4 per cent in April and more than 92.5 per cent in March.

That helped push core inflation, which excludes volatile fresh food prices, to a forecast-topping 3.7 per cent — its highest level since January 2023 — and up from 3.5 per cent in April.