3 days ago
Japan to see markups for 2,105 food items in July
Japan's 195 major food makers are slated to raise the prices of 2,105 products in July, up about fivefold from a year earlier, research company Teikoku Databank said Monday.
The number of food and beverage products with higher prices compared with the preceding month will top 2,000 for the first time in three months, and climb year on year for the seventh consecutive month.
The total number of higher-priced food and beverage products known so far this year has reached 18,697, and the cumulative annual figure may top 20,000 during July. "The momentum of price hikes this year has remained stronger than last year," a Teikoku Databank official said.
Higher raw material, energy and labor costs are primary factors behind the expected price hikes in July.
Markups are especially being set for confectionery items such as chocolate and potato chips. Lotte is expected to raise shipment prices of 128 products, including its mainstay "Koala no March" and "Pie no Mi" chocolate snacks, by up to 47.2%.
Calbee and Koike-Ya will effectively raise prices of some potato chip products by reducing their volumes.
