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Market Update: Japan Food Prices Decline at Slower Rate
Food prices in Japan dropped by 0.9 percent year-on-year in May 2021, after a 1.2 percent fall a month earlier. This was the third straight month of decrease in cost of food, as prices continued to fall for fresh food (-5.2% vs -7.3% in April), cereals (-1.6% vs -1.4%), fish & seafood (-0.2% vs -1.1%), dairy products (-0.2% vs -0.2%), fresh vegetables (-7.4% vs -10.5%), fresh fruits (-8.9% vs -8.2%), oils, fats (-1.5% vs -1.2%), and alcoholic beverages (-0.2% vs -0.3%). Also, cost of meats were down 0.2% after gaining 0.8% in April. On the other hand, prices rose further for cooked food (0.1% vs 0.2%), cakes & candies (0.9% vs 1.1%), and meals outside the home (0.3% vs 0.3%). At the same time, prices of beverages went up 0.2%, after a 1.5% drop in April. source: Ministry of Internal Affairs & Communications [/s2If]
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