In a move set to impact household budgets, major food and beverage producers in Japan are planning price hikes for 4,225 products beginning in April, according to a report released by Teikoku Databank on Monday.
This marks the fourth consecutive month in which the number of items subject to price increases has surged, surpassing 4,000 for the first time since October 2023. Teikoku Databank, a private research firm, forecasts that the total number of products facing price hikes this year will reach around 20,000, a significant rise from last year’s 12,520.
The price increases are primarily driven by rising wages and logistics costs, which are placing growing pressure on product prices, said an official from Teikoku Databank. Among the 195 companies affected by the changes, all major producers of beer and beer-like beverages will raise their prices for the first time in a year and a half. Notably, Asahi Breweries will increase the price of its popular Super Dry beer along with 225 other products, while Suntory Spirits will raise the price of its 350-milliliter “Kinmugi” beer-like drink from approximately ¥184 to ¥196 at convenience stores.
Additionally, the price of hams and sausages produced by Prima Meat Packers and Marudai Food will rise, adding to the strain on household expenses. Edible oils, including the 1-liter Nisshin Canola Oil from Nisshin Oillio Group, will also see an increase, with a rise of about 11%.
In response to higher rice prices, TableMark will implement price hikes for all 22 of its packed cooked rice items designed for household use. A spokesperson for the company commented on the second price increase this year, following a rise in January, stating, “Despite the government’s release of its reserved rice, we cannot be optimistic about the future price trends of rice.”
The continued upward pressure on prices is a growing concern for consumers, as Japan grapples with inflationary pressures across various sectors.
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