Insight - Why Japan wants you to fork out more for food

Price pressure: Customers at a restaurant in Tokyo’s Shimbashi area. The BoJ is on the cusp of raising its inflation forecast to 1.5% to 1.9% for the current fiscal year, compared with a 1.1% forecast in January. — AFP

FOR the first time in a generation, there’s a hint of inflation in the air in Japan.

It smells a lot like fried chicken. The 10% price hike for convenience-store chain Lawson Inc’s Karaage-kun fried chicken wouldn’t normally make headlines.