April is the start of the new financial year in Japan, and with it comes a rise in the cost of goods. Japan will now have to deal with an increase in the prices of basic necessities due to the rising cost of raw materials. As reported by Japan todayprice increases will start today (friday april 1st).
Some of the food items subject to price hikes include major brands of cheese, cooking oil and ketchup. Nikkei Asia (in Japanese only) also reported that Starbucks will apply higher prices for its flagship products starting April 13. These famous Frapuccino drinks go up ¥10-50 each, and coffee beans will cost ¥90 more.
Even KitKats are expected to increase in price starting July 1. The Huffington Post reports that Nestlé will raise the prices of some KitKat share bags. The KitKat Mini 12-piece set will increase from ¥324 to ¥356 while the Variety Pack (146g) will increase from ¥378 to ¥416. Meanwhile, the KitKat Mini and KitKat Mini Adult Sweetness bags will remain at the same price, but will have one less KitKat per pack.
Furthermore, another Nikkei Asia report indicates that bread and pastries will experience the largest price increase, followed by frozen foods and dry pasta. While food makers have pushed retailers to raise prices, apparently supermarkets like Aeon and Seiyu plan to hold prices for their private label items.
Food isn’t the only thing affected by price hikes. Japan today also says that daily necessities such as tissues and toilet paper, as well as diapers will also increase. Japan’s transportation systems will also become more expensive with East Japan Railway Co (aka JR East) raising shinkansen ticket prices during peak season and Japan Airlines raising the cost of tickets for select domestic flights from April 15.
This article was originally published on April 1 and updated on April 5.
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