TOKYO, Dec 30 (NNN-NHK) – Price increases hit a total of 32,396 items of 195 major food and beverage makers in Japan in 2023, a credit research company said, yesterday.
The total of food price hikes exceeding 30,000 items is unprecedented in the 30 years, since the collapse of Japan’s bubble economy in the 1990s, according to a survey by Teikoku Databank Ltd. In 2022, prices for 25,768 food items went up.
This year, companies continued to pass on their soaring raw materials and utility costs, as well as, higher packaging and logistics costs to customers, it said.
“Prices for all food categories were raised all at once,” a Teikoku Databank official said.
Meanwhile, the research firm forecasts the number of items whose prices will be hiked next year to fall sharply to around 15,000.– NNN-NHK
