Japan to See 60 Pct Fewer Food, Beverage Price Hikes in Feb.

Tokyo, Jan. 30 (Jiji Press)–The number of food and beverage price hikes in Japan will drop nearly 60 pct from a year earlier next month, showing a sign of food inflation calming down, a private research firm survey showed Friday. The country’s 195 major food and beverage makers are scheduled to raise prices on 674 items in February, down 59.3 pct from over 1,600 hikes chiefly for processed foods in the same month last year, with the number of products with markups declining for two months in a row, Teikoku Databank Ltd. said. According to the survey, 298 alcoholic beverages and soft drinks, including cooking sake and fresh juice, will lead the planned price hikes, followed by 283 processed foods. By maker, Kagome Co. will raise the shipping prices of the “Yasai Seikatsu 100” vegetable juice and 103 other beverages by up to 19.1 pct while Toyo Suisan Kaisha Ltd. will push up by 12-16 pct the suggested retail prices of 41 items in the “Maruchan” cooked rice series. “Overall, food and beverage price increases have come to a halt,” a Teikoku Databank official said. But at the same time, the official warned, “The weak yen could pose an inflation risk in and after May.” END [Copyright The Jiji Press, Ltd.]