As global costs soar, Japan's 'shrinkflation' gets harder to swallow

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TOKYO : It was a chocolate biscuit that turned Masayuki Iwasa, a self-professed penny-pincher with a sweet tooth, into one of Japan's most scrupulous chroniclers of 'shrinkflation'.Having sworn off his favourite Chocoliere tartlets for a decade after Bourbon Corp reduced the package size, the newspaper de

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TOKYO : It was a chocolate biscuit that turned Masayuki Iwasa, a self-professed penny-pincher with a sweet tooth, into one of Japan's most scrupulous chroniclers of"shrinkflation".

"In Japan, the impact of deflation means it is difficult to raise prices directly, so shrinkflation is a kind of a measure of last resort," Iwasa said."But basically it's sneaky and it bothers me." There are now signs that even Japan Inc may be nearing a tipping point, as soaring raw material costs and a weak yen drive up what companies pay for fuel, coffee beans and beef.

Watanabe said many companies will balk at outright price increases, just as they did in 2008 during another commodities surge and in 2013-2014 when the yen weakened sharply, leaving shrinkflation as one of the few ways to protect margins.In 2008, Bourbon cut the number of Chocoliere biscuits in a 150 yen packet to 14 from 16, citing higher costs, according to Iwasa's website, which uses company announcements, internet archives and other public information to track prices.

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It is the high cost of living created & instilled within the Japanese society.

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