Food prices in Japan may rise 14% by year-end

An increase in prices for 2,431 items of food products has been recorded in Japan, Report informs citing foreign media.

Analysts expect a record increase in prices in October.

According to their forecasts, another 6,000 items of goods will rise in price. In total, from September to November, prices will increase for 8,000 items.

For the whole of 2022, analysts expect prices to rise regarding about 20,000 goods. On average, prices will rise by 14%.

Teikoku Databank noted that before the summer, the cost of products grew due to the increase in world prices for grain and fuel. Then the situation was aggravated by the fall of the yen, which at some point dropped to 140 yen per dollar, as well as rising import prices.