On the 30th, Teikoku Databank announced the results of a survey showing that 2,911 food items are scheduled for price increases in October. This is expected to be the highest number of items this year, exceeding April’s (2,897 items). Going forward, there are plans to raise prices for packaged rice products due to soaring rice prices, and while further increases are expected, prices are expected to subside towards the end of the year.
For the whole year, it is about 40% of the previous year.
Looking at the items with price increases in October by category, “alcoholic beverages and beverages,” mainly plastic bottled beverages, accounted for 1,362 items, accounting for nearly half of the total. “Processed foods” followed with 673 items. Price increases for ham and sausage are noticeable. There were 237 confectionery items, of which more than half were chocolate-related products.
The main factor was the prolonged high cost of raw materials, as well as the impact of logistics costs and the weaker yen.
Currently, there are moves to raise the price of packaged rice all at once due to the soaring price of raw rice due to rice shortages. However, prices are expected to be generally stable from November onwards, and prices are expected to increase for less than 13,000 items this year, which is about 40% of last year’s (32,396 items).
Source: Japanese