Consumers in Japan may be feeling increasingly uneasy as the weakening yen and recent rises in the price of crude oil and raw material costs are making commodities in Japan more expensive.
The fortunes of consumers are in contrast to big exporters such as Toyota and Canon, which are making record profits overseas, pushing Japanese stocks higher.
It is expected that the average retail price of regular unleaded gasoline in Japan will rise above 140 yen per liter (US$1.13/L) in July for the first time in nine months, according to oil industry officials.
The production costs of gasoline and other oil products will rise 1.8 yen per liter ($0.146) because of a weaker yen and rising crude oil prices, Nippon Oil Corp said Wednesday.
Retail prices of tissue paper will also rise in the near future. Currently, prices of toilet paper are already at their highest levels in four years, reports Asahi Shimbun.
In the retail restaurant business, McDonald's Holding Co. based in Japan recently raised prices at 1,255 stores across the country because of an increase in labor costs and rents.