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A large number of food products in Japan will increase in price in the next three months

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According to the results of a recent survey by Imperial Japan Database Co., Japan will have more than 4,000 food prices increased from August to October, of which more than 600 food prices will rise in August.

 

According to Japanese media reports, Imperial Database company surveyed 195 major food and beverage manufacturers in Japan, asking them about their intention to raise prices. The results show that 642 food products will increase in price in August this year, including 319 processed food products; In September and October, 1,339 and 2,491 food items are expected to increase in price, respectively.

 

The price of processed foods such as pasta and chocolate snacks were pushed up in August by higher wheat transportation costs and a jump in cocoa prices, according to Imperial Database. Food price inflation in Japan is expected to accelerate, taking into account the depreciation of the yen and rising costs of raw materials, labor and logistics.

 

According to the company, in view of the general reluctance of consumers to choose food products with higher prices, many food manufacturers have maintained the same price and reduced the size of the way.

 

Data released by Japan's Ministry of Internal Affairs and Communications show that in June, Japan's core consumer price index (CPI) excluding fresh food rose 2.6% year-on-year to 107.8, the 34th consecutive month of year-on-year growth, and the growth rate expanded for two consecutive months. In addition, food prices rose 3.6 percent year-on-year, with fresh food prices up 8 percent. Prices of cultural and entertainment goods rose 5.6 percent year on year.

 

Last year, the price of more than 32,000 food products rose in Japan, the highest number in 30 years, due to a sharp rise in raw material prices and a weaker yen, which increased import costs.


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