TOKYO: Rice prices in Japan soared 99.2 per cent in June year-on-year, official data showed Friday (Jul 18), piling further pressure on Prime Minister Shigeru Ishiba ahead of elections this weekend.
The price of the grain already 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.
Overall, Japan’s core inflation rate slowed to 3.3 per cent in June from 3.7 per cent in May, the data from the internal affairs ministry showed.
The reading, which excludes volatile fresh food prices, was slightly below market expectations of 3.4 per cent.
Excluding energy and also fresh food, consumer prices rose 3.4 per cent, compared with 3.3 per cent in May.
Public support for Ishiba’s administration has tumbled to its lowest level since he took office in October, partly because of frustration over the cost of living.
One of the main sources of anger has been inflation and in particular the surging cost of rice, as well as scandals within the ruling party.
The 68-year-old leader’s coalition was deprived of a majority in the powerful lower house in October.
It was the worst election result in 15 years for the Liberal Democratic Party (LDP), which has governed Japan almost continuously since 1955.
Opinion polls ahead of Sunday’s election suggest the ruling coalition may lose its majority in the upper house as well.
This could force Ishiba to resign after less than a year in office.
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