Recently, we've discussed a lot about oil prices and the factors that drive those prices up. Increased commodity prices are not just isolated to oil or to the Middle East region. According to a recent article in the Washington Post, Japan is getting ready for jumps in food prices as well.
Thanks to significant global price increases in wheat and corn, Japan is likely to take a significant hit. The issue is further complicated by high tariffs imposed by Japan on agricultural imports. The dynamics of global commodities have taken on new facets with the increased interdependence of regional economies.