Rice prices in Japan soared 90.7 percent in July year-on-year, official data showed Friday, but the rate of increase slowed from previous months offering some relief for Prime Minister Shigeru Ishiba.

Ishiba’s future is uncertain after his coalition lost its majority in both chambers in elections this year, as voters angry about rising prices deserted his long-dominant Liberal Democratic Party.

Rice prices have skyrocketed in recent months because of supply problems linked to a very hot summer in 2023 and panic-buying after a “megaquake” warning last year, amongst other factors.

Overall, Japan’s core inflation eased to 3.1 percent from 3.3 percent in June.

But it remains above the Bank of Japan’s two-percent target, cementing expectations that it will hike interest rates this year.

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