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In September, 4,923 food and drink products from 195 major Japanese manufacturers are set to experience price increases, Teikoku Databank reported on Monday. This marks a threefold increase from the same period a year ago and the fourth-largest monthly total on record, surpassed only by April 2023. The price hikes are attributed to higher crude oil prices due to Middle Eastern tensions, a weaker yen, and rising logistics costs.
So far this year, 19,083 food and beverage items have seen price increases, indicating the annual total is likely to surpass 20,000 for the second year in a row. Seasoning products, such as soup bases and mayonnaise, accounted for the most items with 1,959 price hikes, followed by processed foods like frozen foods and fish paste products at 1,848.
Kikkoman Food Products will raise prices for 107 household items, including popular soy sauce products. Conversely, Kura Sushi and Lawson convenience stores will lower prices on some products starting September. However, a Teikoku Databank official expects price cuts to be limited as the challenging cost environment persists.
Written by urgent.news from Japan Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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