According to Teikoku Databank last Thursday, there are approximately 4,283 food items in Japan set to experience a price hike this February. The credit research company said a total number of 7,390 items will see a price increase and some will rise as high as 60 per cent compared to a year ago. These numbers are derived based on its survey conducted towards the end of 2022,
Last year in October, Japanese households were experiencing the food items’ first price hike. There were a total of 6,699 items involved. Based on the Teikoku Databank’s data, for the entire 2022, there were 20,822 food items’ prices went up in Japan.
The real culprit is the food producers as they need to make slight profits even though the yen and the crude oil price were trending downward.
