Foresight

Price rises for over 400 food products

Due to soaring commodity prices, 417 food products have seen their prices rise.

417 food products saw their prices rise in May 2024.

This increase is attributed to rising raw material prices, but also to poor harvests caused by unfavorable weather conditions.

Heat and drought meant that the coffee bean and olive harvests were not good.

Price rises will affect 417 food products in spring 2024, down 50% on the same month the previous year (837 products in 2023).

According to a study conducted by TDB, if the yen's historically low level continues and import costs rise, it is possible that food price rises will resume beyond autumn 2024.