Japanese Consumers to Face Higher Food Prices

Economy

Tokyo, Sept. 28 (Jiji Press)--Consumers in Japan are expected to see their budgets squeezed this autumn as food makers plan to raise prices in October due to soaring ingredient costs amid rising demand worldwide and bad weather.

Yamazaki Baking Co. <2212> will raise shipment prices for some sweets by 7 pct on average.

Meiji Co., a unit of Meiji Holdings Co. <2269>, will increase its suggested retail prices of margarine and some other products by 4.3-12.8 pct.

Ajinomoto Co.'s <2802> Ajinomoto AGF Inc. said that the retail prices of its coffee products are expected to rise by around 20 pct due to higher import costs.

Prices for flour, bread and "udon" noodles are likely to go up toward the end of the year as the Japanese government plans to raise imported wheat prices amid rising international prices and higher transport costs.

[Copyright The Jiji Press, Ltd.]

Jiji Press