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Price hikes a tough sell in Japan despite inflation

Tokyo [Japan], November 10: When Japan's "symbol of affordability" Uniqlo decided to increase the price of its basic socks last month, it sparked a backlash before the clothing titan made an immediate U-turn. That came after Italian-style family restaurant chain Saizeriya issued an almost groveling apology as it decided to add 20 yen ($0.13) to the price of its trademark Milanese Doria, lamenting its "lack of effort". The very public angst including in one of the world's most recognizable clothing brands highlights the struggles Japanese firms face as they battle rising costs in a country where decades of deflation have nurtured a consumer class averse to higher prices. The Bank of Japan last month declared its two-percent inflation target had been met, after 13 years of ultra-loose monetary policy.

Nov 10, 2026