Japan’s food prices rose 3.1% year-on-year in August 2026, slowing from 3.5% in the previous month and marking the slowest increase since July 2024. Price pressures moderated across fresh vegetables (5.5% vs 6.5% in July), fresh fruit (0.1% vs 2.4%), dairy products and eggs (1.3% vs 3.5%), cakes and candies (5.0% vs 6.1%), meats (3.3% vs 3.9%), alcoholic beverages (0.4% vs 0.6%), and prepared foods (3.3% vs 3.5%). Meanwhile, cereal prices fell for a fourth straight month (-3.4% vs -2.2%). At the same time, rice prices dropped 15.7% year-on-year, extending their decline for a fourth consecutive month and marking the steepest fall since April 2005. In contrast, prices accelerated for fish and seafood (9.9% vs 9.0%), oils, fats and seasonings (4.0% vs 3.4%), beverages (6.0% vs 5.5%), and meals eaten out (2.1% vs 1.7%).