Rice prices in Japan last month were almost twice what they were a year earlier, official data showed Friday, as core inflation accelerated in the world鈥檚 number four economy.
The price of the grain has soared in recent months, prompting Japan鈥檚 government to release some of its emergency stockpile into the market.
Excluding fresh food, consumer prices rose 3.2 per cent in March year-on-year compared to 3.0 per cent in February 鈥� in line with market expectations.
Excluding energy as well, prices rose 2.9 per cent last month, up from 2.6 per cent in February. But overall inflation eased to 3.6 per cent from 3.7 per cent.
The data is likely to strengthen expectations that the Bank of Japan will hike interest rates, with inflation above the BoJ鈥檚 target of two per cent for almost three years.
However, uncertainty caused by US president Donald Trump鈥檚 trade policies could prompt the central bank to stick to its current stance for now.
The internal affairs ministry said that the prices of both fresh and non-fresh food products rose, as did hotel fees.
But grain prices saw the biggest increase, rising 25.4 per cent. Rice prices logged an enormous 92.5-per cent jump, driven by a shortage of the staple.
Factors behind the shortfall include poor harvests due to hot weather in 2023 and panic-buying prompted by a 鈥榤egaquake鈥� warning last year.
Record numbers of tourists have also been blamed for a rise in consumption while some traders are believed to be hoarding the grain.
The government began auctioning its rice stockpile last month, the first time since it was started in 1995.
The government has so far released around 210,000 tonnes and plans to auction another 100,000 tons this month, authorities said earlier this month.
Rice also appears to have been a factor in Trump鈥檚 hefty tariffs of 24 per cent on Japanese imports 鈥� currently paused 鈥� into the United States.
The White House has accused Japan of imposing a 700-per cent tariff on US rice imports, a claim that Japan鈥檚 farm minister called 鈥榠ncomprehensible鈥�.
But it鈥檚 not just rice; cabbage prices have also exploded, including by 111.6 per cent in March compared to the same month last year.
Last year鈥檚 record summer heat and heavy rain ruined crops, driving up the cost of the leafy green in what media have dubbed a 鈥榗abbage shock鈥�.
The rising prices have increased pressure on the government of prime minister Shigeru Ishiba to do more to help consumers.
