Planned Food Price Hikes in Japan Down 70 Pct for March

Tokyo, Feb. 27 (Jiji Press)–The number of food and beverage items slated for price hikes in Japan in March is down 73 pct from the same month last year, a private research firm’s survey showed Friday. Prices of 684 products of 195 major food and beverage manufacturers in Japan will be raised next month, compared with over 2,500 items a year earlier, according to Teikoku Databank Ltd. The number of items subject to price hikes will decrease for three straight months, indicating that the wave of price increases is easing. By category, the number of processed foods tops the list, at 304 items. Nissui Corp. will raise the shipment prices of 37 frozen food items, including a grilled rice ball product, by 2-34 pct. The second-largest category is alcoholic beverages and soft drinks, at 224 items. Coca-Cola Bottlers Japan Inc. will raise the pre-tax suggested retail price of its 650-milliliter Ayataka green tea in plastic bottles from 200 yen to 220 yen. “In the short term, the trend of fewer items being subject to price hikes will continue,” an official at the research firm said, while warning that renewed price increases may occur in the latter half of this year due to the prolonged weakness of the yen. END [Copyright The Jiji Press, Ltd.]