TOKYO: The prices of 2,431 types of products are expected to increase in Japan in August with another 6,000 in October, reported Sputnik, quoting Japanese research centre Teikoku Databank on Monday.
According to its estimates, October will see price hikes for 6,000 types of commodities, the biggest number on record. Some 8,000 product items are also slated to increase in price between September and November, as many as in the first seven months of 2022, the research revealed.
The total number of products that will suffer from price increases will amount to around 20,000 items, with the average price growth of 14 per cent.
While Teikoku Databank attributed prior hikes to surging grain and energy prices, the upcoming increase will be “further compounded by the tumbling yen, which at one point dipped to the rate of 140 yen per US dollar, and by soaring import prices.”-Bernama
