Nissay Basic Research Institute: Japan's food inflation may accelerate in summer, with CPI expected to rise above 2%
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- Taro Saito, economist at Nissei Research Institute, stated that Japan's food price increases, which have slowed since last year, may accelerate around the summer.
- As businesses and households have been experiencing inflation continuously since 2022, Japanese companies have recently become more proactive in raising prices. He pointed out that the extent and speed at which the price hikes caused by surging crude oil costs are passed from upstream to downstream could exceed previous levels.
- He expects that during the summer, Japan's consumer price increase excluding fresh food will rise from 1.4% in April to above 2.0%.
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