Number of food items seeing price hikes in 2023 to exceed 2022

Price hikes have been decided for over 29,000 food and beverage items in Japan for 2023 so far, with the total number expected to be higher than the previous year at around 35,000, impacting households as they continue to face the adverse effects of inflation, a credit research company said.

As an increasing number of stores transfer higher raw material costs to consumers, the number of items subject to price hikes is forecast to be 29,106 by October, exceeding last year’s total of 25,768, a survey by Teikoku Databank Ltd. released Friday said.

The company said the rate that prices have been i...