Japan girds for new wave of food price hikes as tanker rates soar

What happened: Japan faces a possible second wave of food price increases as Middle East turmoil raises prices for naphtha-derived container feedstocks and crude oil tanker freight rates. Key numbers: Prices rose for 4,965 food and beverage items in September, more than triple the number from a year earlier. Why it matters: Consumer prices could rise next year, erasing Takaichi's consumption tax cut, according to Nikkei.

Japan faces a possible second wave of food price increases as Middle East turmoil raises prices for naphtha-derived container feedstocks and crude oil tanker freight rates.

Consumer prices could rise next year, erasing Takaichi's consumption tax cut, according to Nikkei.