6,442 Food Items in Japan Get Price Hikes

Economy Politics Lifestyle

Tokyo, Oct. 1 (Jiji Press)--Prices for 6,442 food and beverage products were raised in Japan on Saturday, an unprecedented number for a single day, due to surging materials costs and a weak yen, credit research company Teikoku Databank Ltd. said.

Prices for restaurant menus, daily goods, household electronics and public utilities also rose, dealing a further blow to households already battered by inflation since last year.

In the whole of October, the prices of 6,699 food and beverage items are set to increase, according to Teikoku Databank's survey of 105 major producers released Saturday.

"This is a scale unseen since the bursting of the bubble economy," a Teikoku Databank official said.

Over 20,000 food and beverage products are expected to experience price increases during 2022, which would cost the average household 5,730 yen more per month, according to Teikoku Databank.

[Copyright The Jiji Press, Ltd.]

Jiji Press