Prices set to rise in Japan for over 10,000 food items before year-end on weak yen
Food prices in Japan will continue to surge for the latter half of 2022, according to a survey by credit research company Teikoku Databank.
It found that prices of 2,431 items are scheduled to rise in August. Another 8,043 items will rise in price later this year.
For the year in total, 18,532 items will likely rise in price. The average price rise will be 14%.
“Companies are becoming less hesitant to raise prices,” a Teikoku Databank official in charge of the survey said.
Costs for many imports are being pushed up due to a weaker yen. Also rising in cost are materials like wheat and edible oil, as well as logistics. That means many items will see two or more price hikes, said Teikoku Databank.
The survey collected data on price hikes from 105 major food and beverage companies listed on stock exchanges. (Kyodo)
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