https://sputnikglobe.com/20220706/japan-sees-price-hike-for-60-of-food-products-reports-say-1097003052.html
Japan Sees Price Hike for 60% of Food Products, Reports Say
Japan Sees Price Hike for 60% of Food Products, Reports Say
Sputnik International
TOKYO (Sputnik) - Prices growth in Japan has affected about 60% of food products including 37 types of products, the Nikkei newspaper reported on Wednesday. 06.07.2022, Sputnik International
2022-07-06T07:16+0000
2022-07-06T07:16+0000
2022-12-19T13:53+0000
japan
prices
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According to the calculations based on the Japanese newspaper's own index, prices for 60 food products in 470 supermarkets went up across the country year-on-year. In May 2021, a price growth was recorded for 21 types of commodities, which corresponds to 35%, and in May 2022, the costs surged for 37 products, accounting for 60%.Among the leaders of price hikes were seed oil (by 12%), mayonnaise (by 15%), with other 12 categories rising by 5%, according to the newspaper.At the same time, an average receipt amount decreased for 20 types of products of these 37, accounting for 54% of the total number of food products affected by the growing prices due to the fact that salaries are not being indexed, the report said.As many as 102 Japanese food producers were intending to raise prices or already did so for 15,000 types of products, it added, citing the Teikoku Databank scientific research center.Some Japanese companies have decreased the size of their product in order to keep the same price, but if raw material costs continue to rise, price hikes will be inevitable in the coming months, according to a survey published by the think tank in May.
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Japan Sees Price Hike for 60% of Food Products, Reports Say
07:16 GMT 06.07.2022 (Updated: 13:53 GMT 19.12.2022) TOKYO (Sputnik) - Prices growth in Japan has affected about 60% of food products including 37 types of products, the Nikkei newspaper reported on Wednesday.
According to the calculations based on the Japanese newspaper's own index, prices for 60 food products in 470 supermarkets went up across the country year-on-year. In May 2021, a price growth was recorded for 21 types of commodities, which corresponds to 35%, and in May 2022, the costs surged for 37 products, accounting for 60%.
Among the leaders of
price hikes were seed oil (by 12%), mayonnaise (by 15%), with other 12 categories rising by 5%, according to the newspaper.
At the same time, an average receipt amount decreased for 20 types of products of these 37, accounting for 54% of the total number of food products affected by the growing prices due to the fact that salaries are not being indexed, the report said.
As many as 102 Japanese food producers were intending to raise prices or already did so for 15,000 types of products, it added, citing the Teikoku Databank scientific research center.
Some Japanese companies have decreased the size of their product in order to keep the same price, but if raw material costs continue to rise, price hikes will be inevitable in the coming months, according to a survey published by the think tank in May.
