Rice prices have dropped, and Japan's core inflation in June has fallen from a 29-month high.

Jin10 data reported on July 18, due to signs of easing rice inflation, Japan’s core inflation rate fell from a 29-month high of 3.7% in June to 3.3%, in line with expectations. Japan’s overall inflation dropped from 3.5% in May to 3.3%. The “core-core” inflation rate, which excludes fresh food and energy prices, climbed from 3.3% last month to 3.4%. Rice prices rose 100.2% year-on-year in June, easing slightly compared to the previous month. Rice prices rose 101.7% year-on-year in May, marking the largest increase in over half a century. The data released on Friday comes as Japan grapples with economic growth concerns stemming from Trump tariffs, while the cost of living issue is expected to dominate the upcoming Senate elections.