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Surprised a rich country like Japan cares so much. Rice is super cheap Is this not in rounding error territory for most household?

by Havoc 2y ago

anothereng 2y ago
people care about staples in any country rich or not.
PapaPalpatine 2y ago
> The price of rice in Japan is up 60% year-on-year as of last month Maybe read the article a bit before jumping into the discussion.
- dagw 2y ago
  I think the point is that a 60% increase of a small number is still a small number. If you spend $15 a month on rice and then that goes up $23, it's still a small part of your overall household budget. I think it is clear that this is a political 'problem' that they're trying to solve, rather than an economic problem.
- Havoc 2y ago
  As others here have calculated it’s about 130 usd extra a year. Hardly earth shattering in a wealthy country.
  - mc3301 2y ago
    Not earth shattering, but in a country with 30 years of stagnant wages, prices of everything going up, plus many have little savings here... That 130usd per person can start to look kinda tough for many families.
lazylizard 2y ago
lets count! Japanese ppl eat 50kg of rice per capita per year?* price of 1kg of rice in tokyo $4.33** so rice expenditure was $216.50/year? now up 60% to $346.40? a $130 increase? the poorest 7% of households made under 1m yen?*** so thats about $6500? so a 2% or less hit to all but the poorest 7% of Japanese households. median is 4-5m yen..lets pick 4.5m for convenience..so around $30k..n $130 is less than half a percent of household income. i don't know where's the threshold for rounding ¯\_(ツ)_/¯ * https://www.statista.com/statistics/1228187/japan-per-capita-consumption-volume-rice/#:~:text=In%20fiscal%20year%202022%2C%20the,flour%20grew%20popular%20among%20consumers. https://www.statista.com/statistics/1228187/japan-per-capita... **https://www.numbeo.com/cost-of-living/prices_by_city.jsp?itemId=115 https://www.numbeo.com/cost-of-living/prices_by_city.jsp?ite... ***https://www.statista.com/statistics/614245/distribution-of-annual-household-income-japan/ https://www.statista.com/statistics/614245/distribution-of-a...
null_deref 2y ago
I’m by no means an expert but I think raising prices in Japan bears significant cultural meanings, There were times when CEOs publicly apologized for raising prices.

Surprised a rich country like Japan cares so much. Rice is super cheap Is this not in rounding error territory for most household?

by Havoc 2y ago

Surprised a rich country like Japan cares so much. Rice is super cheap Is this not in rounding error territory for most household?

anothereng 2y ago

people care about staples in any country rich or not.

PapaPalpatine 2y ago

> The price of rice in Japan is up 60% year-on-year as of last month Maybe read the article a bit before jumping into the discussion.

dagw 2y ago
I think the point is that a 60% increase of a small number is still a small number. If you spend $15 a month on rice and then that goes up $23, it's still a small part of your overall household budget. I think it is clear that this is a political 'problem' that they're trying to solve, rather than an economic problem.
Havoc 2y ago
As others here have calculated it’s about 130 usd extra a year. Hardly earth shattering in a wealthy country.
- mc3301 2y ago
  Not earth shattering, but in a country with 30 years of stagnant wages, prices of everything going up, plus many have little savings here... That 130usd per person can start to look kinda tough for many families.

lazylizard 2y ago

lets count! Japanese ppl eat 50kg of rice per capita per year?* price of 1kg of rice in tokyo $4.33** so rice expenditure was $216.50/year? now up 60% to $346.40? a $130 increase? the poorest 7% of households made under 1m yen?*** so thats about $6500? so a 2% or less hit to all but the poorest 7% of Japanese households. median is 4-5m yen..lets pick 4.5m for convenience..so around $30k..n $130 is less than half a percent of household income. i don't know where's the threshold for rounding ¯\_(ツ)_/¯ * https://www.statista.com/statistics/1228187/japan-per-capita-consumption-volume-rice/#:~:text=In%20fiscal%20year%202022%2C%20the,flour%20grew%20popular%20among%20consumers. https://www.statista.com/statistics/1228187/japan-per-capita... **https://www.numbeo.com/cost-of-living/prices_by_city.jsp?itemId=115 https://www.numbeo.com/cost-of-living/prices_by_city.jsp?ite... ***https://www.statista.com/statistics/614245/distribution-of-annual-household-income-japan/ https://www.statista.com/statistics/614245/distribution-of-a...

null_deref 2y ago

I’m by no means an expert but I think raising prices in Japan bears significant cultural meanings, There were times when CEOs publicly apologized for raising prices.