Japan will experience a rise in prices on some food, services and tobacco products from October. Partly due to a spike in global raw material prices, the hike deals a further blow to households hit by fallout from the coronavirus pandemic.
Starting Friday, dairy producers Meiji Co. and Megmilk Snow Brand Co. will increase the prices of their margarine products as international prices have soared due to a surge in global demand and lowered output in major producing areas due to poor weather.
For Meiji, the retail price will increase by up to 12.8% and the Megmilk Snow Brand will pass on a bump of up to 12.2%.