Tokyo to see another food price hike in early 2023, affecting over 7,000 items

Funviralpark 2 years ago 0 5

A new year is upon us, but inflation is going nowhere. After recent news about Uniqlo products, FamilyMart fried chicken and even train fare hikes, the next price hike will affect more than 7,000 food items in early 2023.

According to a survey by market research firm Teikoku Databank, 7,152 food prices will increase between January and April 2023. The maximum price increase is 50%, and the average value is 18%.

Most of the increase will affect processed foods such as frozen and canned foods. Soft drinks and alcohol are also set to increase in price through the first few months of 2023.

Part of the price increase comes in the form of products being sold at the same price even though they are reduced in size. According to Jiji Press, Yamazaki Bread will reduce the number of buns in mini breads from 5 to 4, and KitKat mini packs from 13 to 12.

There are several reasons for the price increase, including the depreciation of the yen, soaring raw material prices, and rising logistics costs.

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