Japan Food Prices Rise the Least in 17 Months

Food prices in Japan increased 3.6% year-on-year in March 2026, slowing from a 4.0% gain in the prior month and marking the mildest pace since October 2024. Costs moderated for cereals (3.5% vs 7.3% vs in February), fish and seafood (5.8% vs 7.2%), dairy products and eggs (5.4% vs 7.5%), and oils, fats, and seasonings (4.0% vs 5.3%). Among staples, rice prices increased 6.8% from a year earlier, sharply slowing from a 17.1% rise in February and marking the slowest gain since February 2024, following efforts by Tokyo to ease persistent upward pressure seen last year. At the same time, prices continued to decline for fresh vegetables (-10.5% vs -9.0%) and fresh fruit (-7.4% vs -10.7%). In contrast, inflation held steady for cakes and candies (8.1% vs 8.1%), while accelerating for meats (3.8% vs 3.7%), prepared foods (5.2% vs 4.9%), beverages (9.8% vs 9.1%), alcoholic beverages (5.1% vs 5.0%), and meals eaten out (3.9% vs 3.7%).

Food prices in Japan rose 4.0% year-on-year in February 2026, slightly accelerating from a 3.9% increase in the prior month. Despite the uptick, price growth remained close to its slowest pace since October 2024. Costs moderated for cereals (7.3% vs 12.0% in January), meats (3.7% vs 3.8%), fish and seafood (7.2% vs 7.9%), cakes and candies (8.1% vs 8.2%), meals eaten out (3.7% vs 3.9%), and prepared foods (4.9% vs 5.0%). At the same time, prices continued to decline for fresh vegetables (-9.0% vs -14.0%) and fresh fruit (-10.7% vs -10.4%). Among staples, rice prices increased 17.1% from a year earlier, notably slowing from a 27.9% rise in January and posting the slowest increase in 21 months following efforts from Tokyo to ease persistent upward pressure seen last year. Simultaneously, inflation accelerated for dairy products and eggs (7.5% vs 7.4%), oils, fats, and seasonings (5.3% vs 4.8%), beverages (9.1% vs 7.8%), and alcoholic beverages (5.0% vs 4.9%).

Food prices in Japan increased by 3.9% year-on-year in January 2026, slowing from a 5.1% gain in the previous month and marking the slowest rise since October 2024. Costs moderated for cereals (12.0% vs 14.7% in December), meats (3.8% vs 4.7%), dairy products and eggs (7.4% vs 7.8%), cakes and candies (8.2% vs 8.6%), meals eaten out (3.9% vs 4.0%), and prepared foods (5.0% vs 5.7%). At the same time, prices fell much steeper for fresh vegetables (-14.0% vs -7.1%) and fresh fruit (-10.4% vs -5.8%). Among staples, rice prices increased 27.9% from a year earlier, slowing from a 34.4% rise in December and posting the slowest increase in 18 months amid continued efforts from Tokyo to cool persistent upward pressure on staple food costs. Simultaneously, inflation accelerated for fish and seafood (7.9% vs 6.6%), oils, fats, and seasonings (4.8% vs 4.5%), beverages (7.8% vs 7.7%), and alcoholic beverages (4.9% vs 4.7%).