Prices for over 1,000 food items in Japan set to rise in June
Major food producers in Japan plan to raise prices for 1,078 items in June, with the number topping the threshold of 1,000 for the first time in two months, a survey by Teikoku Databank showed Friday.The total of food items with planned price increases jumped roughly 13 times from the preceding month, while falling 44.4% from a year earlier.Following a pause in price hikes, some manufacturers are now passing on increased costs for packaging materials and energy to consumers amid the uncertain situation in the Middle East.“A wave of price increases is expected to continue for a wide range of products from this summer,” a Teikoku Databank official said. The survey covered 195 companies.By category, seasoning products accounted for the largest share, at 450. House Gaban will raise the prices for some of its spice products for commercial use.Prices of 304 processed food products will also go up. Myojo Foods will raise its suggested retail price for Myojo Ippeichan Yomise no Yakisoba cup-type instant noodles to ¥272 from ¥254.Manufacturers have planned price hikes for 9,361 food items between January and October, and the annual number is on course to top 10,000 for the fifth straight year.The number of items subject to price increases in July is expected to mark the first year-on-year rise in seven months.
