Japan to See Price Hikes for 2,566 Food Items in July

Tokyo, June 30 (Jiji Press)--Major food and beverage makers in Japan plan to raise prices for 2,566 items in July, driven by rising costs linked to tensions in the Middle East, research firm Teikoku Databank Ltd. said Tuesday.

Higher crude oil and naphtha prices have pushed up the costs of packaging materials and raw materials, leading to price increases mainly for processed foods, including instant noodles, and bread products.

The number of items subject to price hikes increased by 21.9 pct from a year before, marking the first rise in seven months.

The survey covered 195 food and beverage makers.

By category, processed foods topped the list with 1,084 items, followed by bread products with 1,078 items.

[Copyright The Jiji Press, Ltd.]