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Japan's food inflation soars to 31-year high, cutting consumption

Prices rise for 90% of products amid wave of hikes by producers: Nikkei data

Japanese government data shows real wages falling and consumers cutting back on spending.   © Reuters

TOKYO -- Food prices in Japan rose at the fastest pace since July 1991 during the past week, Nikkei data shows, as producers scramble to pass on the impact of a softening yen and high commodity costs.

The seven-day average was up 4.5% on the year as of Tuesday, according to CPINow data. The trend threatens to hamper the economy's nascent recovery from the coronavirus pandemic, with poorer households hit the hardest.

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