Japan Sees 2,566 Food Price Hikes in July as Middle East Oil Fears Lift Costs
Updated
Updated · Bloomberg · Jun 30
Japan Sees 2,566 Food Price Hikes in July as Middle East Oil Fears Lift Costs
2 articles · Updated · Bloomberg · Jun 30
Summary
2,566 food and beverage items in Japan will see price increases in July, Teikoku Databank said, marking the biggest monthly wave of hikes since April.
Middle East supply concerns are pushing up petroleum-related costs, while makers are also passing through higher packaging expenses for ink, food film and trays, plus energy and logistics costs.
Processed foods and bread account for much of the increase, with 1,084 and 1,078 items respectively affected, including products from major manufacturers.
The July jump signals that Japan's food inflation pressure is set to persist through the summer rather than ease after earlier rounds of increases.