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It’s not the best news as more price increases are coming starting this month and February/March 2023.
December’s price hike will be limited to about 150 items, but another rush of price increases is expected in February next year.
In December, 145 food items, including PET bottled coffee, powdered milk, and jelly drinks, will be raised in price.
Although the number of items by month is expected to be the lowest for this year, more than 2,000 items of food and drink are scheduled to be raised after the beginning of the year, and the burden on household budgets is likely to increase in the future.
According to Teikoku Databank, this year’s food price hike peaked in October and reached 6,699 items, with a total of about 20,800 items in one year, an unprecedented number.
Restaurants such as Tendon Tenya and CoCo Ichibanya will also raise the prices of their main products.
DM Mitsui Sugar Co., the largest sugar manufacturer, will raise the shipping price of its main product, Spoon Jirushi Johakuto, by 6 yen per kilogram from December 1.
This is the fifth time the price has been raised since March last year, and it will be a total of 35 yen higher than before the price increase. Due to the rapid depreciation of the yen, the price of raw sugar, a raw material of which about 60% is covered by imports, has risen.
Nestlé Japan will raise the suggested retail price including tax of various bottled coffees by 22 yen to 185 yen from the 1st due to the rise in prices of coffee beans. Morinaga Milk Industry Co., Ltd. will raise the suggested retail price excluding tax of “Morinaga Hagukumi Small Can” by 60 yen to 1,040 yen. This is because the price of dairy cattle feed has skyrocketed due to Russia’s invasion of Ukraine.
On the 29th, four city gas companies announced their gas rates for January next year. With the rise in liquefied natural gas (LNG) prices, all three companies, excluding Toho Gas, will further raise prices from the previous month.
The average household monthly charge (including tax) for Tokyo Gas increased by 285 yen from the previous month to 7,035 yen, Osaka Gas increased by 334 yen to 7,397 yen, and Saibu Gas increased by 189 yen to 7,797 yen. Toho Gas left the price unchanged from the previous month at 8,209 yen because it has reached the upper limit of the system to pass on the rise in raw material costs to the price.
Going forward, costs are expected to continue rising due to the effects of persistently high electricity and gas prices and the depreciation of the yen.
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