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Retailers announce price increases: What will affect the family’s purse strings?

By on October 30, 2021

Perhaps by now, you have spotted that the price of a product/service  you paid for a month ago is getting more expensive.

There have been recent price adjustments that some economists are calling the effect of how retailers are responding to global demand during the pandemic. Whether the increase is a few yen or not, it will creep up on us gradually.

Depending on the size of your family and your overall lifestyle, the impact of the price hike is different for each household.

So here’s a list of retailers that have announced their price increase.

FOODS

WHEAT

The price of imported wheat has gone up by 19% from October. Expect any food product made of wheat to rise in the coming months between 7-8%. Japan’s Ministry of Agriculture, Forestry and Fisheries said the price increase is a result of dry and high temperatures in the U.S.A and southern Canada.

DAIRY PRODUCTS

The price of Meiji and Snow Brand Megmilk are expected to rise by 12%. (Source: Meiji, Snow Brand Megmilk)

COFFEE

The market price of coffee beans is rising amid the increasing global demand and unseasonable weather in the production areas. Ajinomoto AGF brand is expected to increase its retail price by about 20%. UCC Ueshima Coffee has already raised its price in September, but will further be increasing the price by about 20%. (Source: Ajinomoto AGF, UCC Ueshima Coffee)

FROZEN FOODS

Ajinomoto announced Friday that it will raise the price of 18 frozen food products by about 4-13%. The increase will apply to hamburger steaks following soaring prices of oil, meat and logistics.
The new price will apply to products shipped from Feb. 1, 2022. It will be the first time for Ajinomoto to have a price increase since February 2015.

UTILITY

TEPCO (ELECTRICITY)

The greatest burden to households is expected to be felt in the coming autumn/winter season when they receive their bill in December. The price increase started in September but most families do not use heating until November. TEPCO says that if the average household consumes 260kWh of electricity using a 30A breaker type, the electricity bill will rise by about 140 yen/kwh from September. From October, the price increase for the average household will go up by a further 133 yen or a total of 273 yen.

TOKYO GAS

A price increase of 104 yen per m3 use has been applied from September.the price of a standard household that uses 30 m3 a month will increase by 104 yen from September.

ENTERTAINMENT

Tokyo Disneyland’s and Tokyo DisneySea’s adult passport price goes up to 700 yen this month.

OTHERS

Smokers across Japan are being hit with soaring cigarette prices as Japan Tobacco raised the price of Seven Stars cigarettes this month from 560 yen to 600 yen a pack, and Camel cigarette brand from 400 to 500 yen.

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