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Global inflation drives prices of Japan’s consumer favourites up By Reuters


© Reuters. Shizuo Mori is the proprietor of Heckeln Coffee Shop in Tokyo. He brews coffee using a Syphon coffee machine at his coffee shop on October 8, 2021. REUTERS/Kim Kyung-Hoon

TOKYO (Reuters – Rising commodity prices in the world have pushed up Japan’s consumer products, such as Japanese bowls made with rice and beef. This is the first increase in such items for many years.

Below are some recent rises in retail and wholesale prices

– Retail prices of imported beef in Tokyo rose 7.2% in September from a year earlier, data from the Agriculture & Livestock Industries Corporation (ALIC) showed, while those of Australian sirloin and brisket respectively rose 13% and 35% in August.

– A kilogram of U.S.-frozen short plate beef was wholesaled at 83.4% more than a year ago in August. Meanwhile, wholesale prices of all other U.S.-frozen and chilled beef products were up throughout the country.

Matsuya Foods raised the prices for regular beef bowls at 30 locations last month by 18.7% to 380yen ($3.35). The company began selling regular beef bowls at 380 yen in the rest of its locations, even Tokyo.

Ajinomoto AGF Inc raised the price of 40 coffee items by 20% in October. It is Ajinomoto’s first price increase on coffee for domestic use since April 2011.

UCC Ueshima Coffee increased the prices for regular coffee products by around 20% starting in September. This is the first price increase since 2014.

Meiji Dairy producers raised prices on nine margarines in October by 4.3%-12.8%, marking the first price increases since September 2008.

Megmilk Snow Brand, another dairy producer raised the prices of 10 margarines, and one butter product from October. These were the first price increases since August 2008.

ALIC data revealed that the price of Japanese imported corn to feed livestock jumped 91.9% in August. However, imported wheat and barley gained around 40%.

($1 = 113.3300 yen)

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Mike Robinson
Mike covers the financial, utilities and biotechnology sectors for Street Register. He has been writing about investment and personal finance topics for almost 12 years. Mike has an MBA in Finance from Wake Forest University.