While the average monthly salary at Japanese firms rose by more than 10,000 yen (about $64) in 2024 from the previous year for the first time, the country's economy as well as household finances faced turmoil. The depreciation of the currency continued to hit a 38-year low at 161 yen against the U.S. dollar in July, causing prices to skyrocket. Rice shortages in summer led to consumers' panic buying, also causing further price rises.

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Why has Japan been hit with rice shortages, soaring prices despite normal crops?

TOKYO -- Shortages of rice have recently been seen across Japan, and the price of the staple food is soaring. But close to 100% of Japan's rice is domestically produced and the yield of crops appears normal, so why is this happening? Full story.

Just eggs and rice: Weak yen, deflation dents the 'Japanese dream' for int'l workers

HAMAMATSU, Shizuoka -- For a 22-year-old Filipino worker at an elder care facility in this central Japan city, the weak yen makes for little leeway to send money home to his family. But he doesn't want to cut his contributions. On his modest salary, the worker solely eats meals of scrambled eggs and white rice for lunch and dinner day in and day out. Full story.

'If I don't speak up, I'll die': woman on welfare in Japan shares hardship as prices soar

TOKYO -- The Japanese government is set to hold discussions through the end of the year on reviewing welfare payments, which had been postponed for two years amid soaring prices. Meanwhile, welfare recipients are struggling to make ends meet, and one of them told the Mainichi Shimbun how she is being pushed into a corner. Full story.

Japan braces for yet more price hikes in Oct. including postal fees, food, drinks

TOKYO -- Another set of price increases awaits consumers in Japan in October, such as mail fees going up by around 30% in addition to ongoing food and beverage price surges. Some lifestyle-related systems will also change with the minimum wage being boosted by 51 yen (about 35 cents) to 1,055 yen (around $7.32) on the national weighted average and child allowances set to be expanded by eliminating income caps. Full story.

Yen's 'real strength' at lowest on record with biggest recent fall among 64 countries, regions

Declines in the yen's "real strength" are standing out amid its ongoing depreciation and years of deflation. In a monthly index released by the Bank for International Settlements (BIS) showing the effective value of the currencies of 64 countries and regions around the world, the yen has continued to see the biggest declines. As Japan relies heavily on imports for essential goods like food and energy raw materials, the situation is becoming increasingly burdensome for the country. Full story.

91% of foreigners want to keep working in Japan, but weak yen taking toll: survey

TOKYO -- Is Japan an attractive place to work despite its weak currency? A survey by a Tokyo-based human resources company found that over 90% of foreign workers now in Japan want to keep working here, though the prolonged depreciation of the yen has reduced their income when converted to their home currencies and is affecting their motivation. Full story.

Is 'dual pricing' an answer to overtourism, high local costs? Japan sees mixed reactions

TOKYO -- As Japan sees high levels of spending by inbound tourists amid the weak yen, some establishments are moving to introduce "dual pricing," charging Japanese customers and foreign visitors different prices. While this is a move fueled by the explosive growth of inbound tourism to Japan, some voice concern over its potential adverse effects. Full story.

Record 163 firms went bankrupt in Japan in April-Sept. due to staff shortages

TOKYO -- The number of cases where companies in Japan went under due to labor shortages stemming from factors including employee turnover and difficulties in hiring staff hit a record high of 163 during the first half of fiscal 2024, a survey by Teikoku Databank Ltd. has shown. Full story.

2024's new rice has finally hit Japan market, so why are prices still high?

TOKYO -- The fine crop of rice harvested this year has finally begun to hit store shelves, set to gradually alleviate a serious shortage that beset Japan this summer and pushed up prices. So why is rice still so much more expensive than last year? Full story.

1-day lift pass for 4 Niseko resorts in Hokkaido costs over 10,000 yen for 1st time

KUTCHAN, Hokkaido -- The price of a one-day lift ticket for adults valid at four ski resorts in the Niseko area in Hokkaido, which boasts international fame for its powder snow, has exceeded 10,000 yen (roughly $66) for the first time. Full story.