Man, this sucks! I saw gasoline prices shoot up (I had filled up the day before!), but I did not know about the wheat. Come April, I will be cutting back on my bread-buying and switching from “udon” (wheat) noodles to “soba” (buckwheat, “grown in Japan”) noodles. The graphs are really scary. Visit Zero Hedge to see them.

Mouse-tip to Marketing Japan for the heads-up.

soaring energy costs – this is the bad news for all…

As all of this happens, Japanese exports – the sole purported reason for this whole reflationary experiment, as the only way the economy improves is if Japan exports soar and the country returns to a net trade surplus status, just hit a record deficit as of a few days ago.

But while the “no free lunch” reality has until now mostly been felt by those who need energy, as shown in “You Wanted Inflation, You Got It: Japanese Gasoline Price Rises To Eight Month High” the inflationary impact on Chinese imports is about to hit everyone like a sledgehammer right where it hurts the most: in the stomach, as the inevitable has finally happened, and the agriculture ministry announced that wholesale wheat prices are set to rise by a near-record 9.7% in April, which will shortly thereafter send regular food prices soaring.

via Japan Food Prices Set To Soar As Government Hikes Wholesale Wheat Prices By 10% | Zero Hedge.

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