Price hikes decided on over 20,000 items in Japan so far this year

Price hikes have been decided for over 20,000 food and beverage items in Japan for this year so far, with the number crossing the threshold at a faster clip than last year, hitting a public already struggling with inflation, according to a credit research company.

A recent survey by Teikoku Databank Ltd. said that the price increases of products for household consumption are partly due to bird influenza that boosted egg prices and poor seaweed harvests.

The total number of items subject to price rises exceeded 20,000 three months earlier than last year, in July. If the rapid pace of the hikes continues, the total could surpass the 30,000 mark as early as this fall, it said.

The prices of 9,667 products had already risen through March. The figure for April stood at 5,116, while those for May and June reached about 820 and 3,300, respectively.

Mayonnaise and numerous other foods with eggs as key ingredients have become expensive. So have yogurt and cheese due to the rise in raw milk prices.

A wide variety of food, including seaweed products, dashi — a type of Japanese soup stock –, cup noodles and frozen foods, are expected to be more expensive, Teikoku Databank said.

The survey covered data from 105 major food and beverage companies listed on stock exchanges and 90 unlisted companies as of the end of April.

Source: Lao News Agency