A personal survey has discovered that foods and drinks producers in Japan have raised costs or plan to extend them for over 8,000 gadgets as a result of increased uncooked materials prices.
Credit analysis agency Teikoku Databank surveyed 105 main producers within the trade this month. It reveals about 60 % of the businesses surveyed have already raised the costs of their merchandise this 12 months or plan to take action.
The will increase have an effect on 8,385 gadgets. That is over 2,000 greater than in an identical survey in April. The common scale of worth hike is 12 %.
Processed meals, corresponding to cup noodles, ham and frozen meals, are most generally affected. A complete of three,609 gadgets are being marked up by a mean of 13 % as a result of increased wheat and cooking oil costs.
The survey discovered some corporations have tried to outlive with so-called “stealth price hikes”. That is after they lower the dimensions of the product whereas protecting the identical worth.
But the analysis agency says a few of these producers now don’t have any alternative however to boost costs sharply. It warns that if uncooked materials prices enhance additional, worth hikes are prone to proceed into the autumn and past.
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