Tokyo rice prices rise sharply in October for first time since 1971

The price of rice, the main staple food of the Japanese, increased by 62.3% year-on-year in Tokyo in October, Report informs referring to foreign media.

This is the highest rate since 1971, according to the statistical report of the Ministry of National Affairs.

It has become approximately 1.5 times more expensive compared to last year's prices.

This is explained by the increase in fertilizer prices and labor costs. In August-September, Tokyo stores experienced a rice shortage, with the product simply disappearing from store shelves.

Initially, this was attributed to panic buying of rice and other products following warnings about a possible earthquake in the Nankai fault area, and later to poor harvest.