Price hikes to affect over 7,000 food, drink products in early 2023

Provided by Ajinomoto Frozen Foods Co., Ltd.
A pack of frozen dumplings that will increase in price early next year.

Prices for many food and beverage products will rise an average of 18% between January and April next year, according to a survey of 105 major companies compiled Wednesday by credit research firm Teikoku Databank.

The number of items affected by the price hike was 7,152, more than 1.5 times higher than during the same period this year, with some products such as frozen foods and wheat-based foods increasing even more.

The original figures, compiled as of the end of November, showed 4,425 items would be affected by price increases. However, in the last 20 days, the number of products has increased by 1.6 times that of his. Manufacturers are believed to have pushed further price hikes in the face of rising costs for materials, transportation and labor.

February saw price increases of 4,277 items, the largest in a month and the biggest since October, when prices increased by 6,699. Ajinomoto Frozen Foods will raise the price of frozen foods such as dumplings by 6% to 16%, and Nissui will raise the shipping costs of frozen foods and bento boxes by 6% to 25%.

Many frozen foods, wheat products, canned seafood and fish cakes will experience price increases again, despite price increases earlier this year. A total of 20,822 item price increases are expected by the end of the year, with an average price increase of 14%.

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