Major food and beverage manufacturers in Japan are planning price hikes for 3,615 items from June onward, with the total number of items that will have seen increased prices set to reach nearly 8,400 this year on the back of the soaring cost of raw materials, according to a credit research firm survey.
“This summer looks to be a summer of price hikes,” Teikoku Databank said earlier in May.
The surveyed companies — 105 food and beverage manufacturers — have already raised prices for 4,770 items from January through May, covering a wide range of products from spices, vegetables, meat and fish to sweets and alcoholic drinks.