Japan to see price hikes on 35,000 food, drink items by end of 2023
Japanese consumers will have seen price hikes on 30,009 food and beverage products by October as retailers pass on higher costs to protect their profits, according to a credit research company.
The total, including the hikes in coming months, already eclipses the 2022 total of 25,768 items, Teikoku Databank Ltd. said in its report in mid-July.
The company also maintained its forecast for the full year at around 35,000 items, saying October is expected to see the most price hikes.
The added burden on households has reduced purchasing power, making it increasingly unlikely companies will continu...