Food prices rising in Japan, cooking oil up 1.5-fold on year

Economy

Food manufacturers in Japan have been hiking prices as a result of rising raw material and crude oil costs, data showed Monday, dealing a blow to households already hit by the fallout from the coronavirus pandemic. The average price of cooking oil at supermarkets across the country spiked 1.5-fold in May from a year earlier, while that of mayonnaise was up nearly 30 percent, according to Japanese analysis company True Data Inc. Raw material and crude oil costs have risen in line with higher demand as economies recover from the coronavirus pandemic and due to global supply chain disruptions. Ja...

Kyodo News

Kyodo News