Rice prices doubled last month in Japan as core inflation accelerated, official data showed Friday, posing a threat to Prime Minister Shigeru Ishiba ahead of July elections. The vote for parliament's upper house, due next month, is crucial for Ishiba after public support for his government tumbled to its lowest…

In May, Japan’s core inflation rate, which excludes volatile fresh food prices, hit 3.7 percent – its highest level since January 2023 – interior ministry data showed.

  • Destide@feddit.ukEnglish
    4·
    6 days ago

    Japan still holds a ton of U.S. debt, so if they start shifting strategy to deal with inflation or fund these cash handouts, that could ripple out fast. They hold the most US debt. Wouldn’t take much to put the U.S. in a tough spot if bonds start getting dumped.