Prices of more than 1,000 food items rising in August in Japan

Food inflation is accelerating in Japan, driven mainly by higher ingredient costs. Private research firm Teikoku Databank polled 195 major domestic food makers. It found that price hikes averaging 11 percent are planned for 1,010 items in August.

Food prices are rising faster than last year for the eighth month in a row. The research firm cites surging material prices and higher production costs as contributing factors. Furthermore, the number of food items in line for price hikes in October is likely to top 3,000. The research firm says some manufacturers are taking steps in anticipation of further rises in costs, making it highly likely food inflation will continue as a long-term trend.