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Japan to see price hikes for 1,626 food items in Feb.

Compared with the same month last year, however, the number of products subject to price hikes dropped by about 70 percent. (AFP)
Compared with the same month last year, however, the number of products subject to price hikes dropped by about 70 percent. (AFP)
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31 Jan 2024 06:01:33 GMT9
31 Jan 2024 06:01:33 GMT9

Tokyo: Prices for 1,626 food and beverage items from 195 major Japanese makers will rise in February, above 1,000 for the first time since October, research firm Teikoku Databank Ltd. said Wednesday.

Prices for tomato products will be higher due to poor tomato crops caused by extreme heat waves across the globe, while rises in the prices of well-known confectionaries also stand out.

Compared with the same month last year, however, the number of products subject to price hikes dropped by about 70 percent. “The momentum of price increases has slowed down in general,” a Teikoku Databank official said.

In February, Kagome Co. will raise the shipment prices of 147 household-use products, including Kagome Tomato Ketchup, by 6.2 percent to 16.4 percent.

At Ito En Ltd., the prices of 51 items, including “Jujitsu Yasai” vegetable juice, will see increases of 4.8 pct to 15.8 pct.

The reference price will be raised to 346 yen from 302 yen for Ebara Foods Industry Inc.’s “Puchitto Nabe” soup product for “yosenabe” hot pots, to 394 yen from 356 yen for a dried seaweed product from Riken Vitamin Co. and to 178 yen from 167 yen for Ezaki Glico Co.’s Big Pucchin Pudding.

Meanwhile, Nisshin Seifun Welna Inc. and Nippn Corp. will reduce the prices of wheat flour for home use by up to 4 percent after the government cuts the prices of imported wheat.

For the full year of 2024, Teikoku Databank maintained its outlook that around 10,000 to 15,000 items will be subject to price increases.

Price increases may spread further, Teikoku Databank said, citing factors such as higher logistics costs caused by shortages of truck drivers.

JIJI Press

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