TOKYO : Japanese supermarket chain Ito-Yokado will undertake a government-backed trial to offer variable discounts on more than a dozen products including bread and desserts as their expiry dates approach in an effort to cut waste.
Nearly nine years of ultra-easy monetary policy have failed to take inflation up to the Bank of Japan's 2per cent target as weak wage growth and a persistent deflationary mindset among the public weighed on consumption and firms' appetite for raising prices. In the trial, Ito-Yokado will gradually discount prices on 16 goods at one Tokyo store to give shoppers more incentive to buy products with approaching expiry dates with the aim of cutting back on the amount of food thrown away, a company spokesperson said.
"It may have a negative impact on inflation," Suehiro said, adding that much would depend on how dynamic pricing habits are reflected in the government's consumer price index survey.
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