Prices of nearly 5,000 items set to rise in Japan in September

Japan's food and beverage prices are set to surge in September, with 4,923 items slated for an increase, Teikoku Databank's survey revealed on Monday. This marks a threefold rise from a year ago and the highest monthly jump in over three years, according to the research firm. The primary driver of this price surge is the Middle East crisis, which has caused crude oil and naphtha prices to soar.

Naphtha, a vital component in producing plastics, is now more expensive, prompting companies to raise costs across their products. Additional factors contributing to the price hikes include higher personnel and logistics costs, as well as the weakening yen, which has led to increased import product prices. Teikoku Databank's survey, which covered 195 major food manufacturers, found that the number of items with price increases reached 1,467 in September 2022, surpassing the previous monthly record set in April 2023.

Despite recent announcements by convenience store chains of lower rice ball prices, experts expect labor and logistics costs to continue rising. Looking ahead, the survey predicts that the number of food and beverage items with price hikes in 2026 will exceed last year's total of 20,609, with more than 3,000 items expected to see price increases in October.

Seasoning products, such as soy sauce from Kikkoman Corp and vinegar from Mizkan Holdings Co, accounted for the largest segment of items set to increase in price next month, with 1,959 items affected.