Although anywhere else in the world a rise of just an equivalent of eight cents wouldn’t even be given a yawn, in Japan this is big news and could mean overall prices will finally start to rise.
After 30-years of keeping prices the same for its yakitori grilled chicken, Torikizoku Co – a budget restaurant specializing in meat skewers – raised its prices for a two-skewer plate from $2.49 to $2.65. According to the Wall Street Journal, this rise was due to having to pay more for part-time help who are in tight supply.
Japan has struggle for 15-years of deflation. Current Prime Minister Shinzo Abe has put defeating deflation at the center of his economic rival plan. Will this mean that US and other meat exporters will be getting more for their Japanese sales?
For the complete story in the Wall Street Journal, go here.