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▼ Consumers To Face Price Hikes On Over 3,000 Food Items In October
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Consumers in Japan are expected to face prices hikes on more than 3,000 food and beverage items for the first time in six months in October mainly due to an increase in raw material and labor costs.
The burden on Japanese households will be felt even more also because three-month subsidies on electricity and gas bills will end at the end of this month, keeping pressure on real wages that fell for the seventh consecutive month in July, as salary growth has been outpaced by price increases.
According to a survey by Teikoku Databank Ltd, the number of food and drink items planned for price hikes next month rose from the initially estimated 2,989 on Aug. 29.
For example, the suggested retail price of a 500-milliliter bottle of Coca Cola will be raised from 194 yen to 216 yen.
Items made from rice, such as "mochi" rice cakes and Japanese sake, will also be subject to hikes due to high rice prices.
The burden on Japanese households will be felt even more also because three-month subsidies on electricity and gas bills will end at the end of this month, keeping pressure on real wages that fell for the seventh consecutive month in July, as salary growth has been outpaced by price increases.
According to a survey by Teikoku Databank Ltd, the number of food and drink items planned for price hikes next month rose from the initially estimated 2,989 on Aug. 29.
For example, the suggested retail price of a 500-milliliter bottle of Coca Cola will be raised from 194 yen to 216 yen.
Items made from rice, such as "mochi" rice cakes and Japanese sake, will also be subject to hikes due to high rice prices.
- 28/9 21:01
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