Over 30,000 food items subject to price hikes in Japan in 2023: survey

TOKYO: Credit research company Teikoku Databank released a survey on Wednesday that over 30,000 food and beverage items are subject to price increases in Japan this year as businesses continue to pass on their higher raw material costs to consumers. The survey showed that 195 food and beverage makers have announced plans to raise prices for 30,009 items this year as of Wednesday, up from 29,106 items as of the end of June. Prices for about 20,000 items had already been raised in the first six months of this year, with price hikes for some 10,000 items being planned in the second half, including 3,716 items in October, when the number may swell to around 8,000 to hit a peak of this year, according to the survey. The company said that consumers are facing "an unprecedented rush of price hikes" in 2023, noting that prices for around 35,000 food and beverage items may rise, up by more than 10,000 from the previous year. By RSS/Xinhua READ ALSO:

• Japan to provide Rs 385m for Nepal's HR development, civil servants' further study
• Hong Kong will ban more products from Japan if treated wastewater is discharged, its leader says
• Japan's economy contracts as energy prices soar
• Wages are finally rising in Japan, as inflation eats away at consumer gains