Economy

Chip stocks jumped for the second day in a row

The price hike in June is expected to reach 3,300 food items such as cup noodles and curry roux, and TEPCO Energy Partner (EP) will raise the regulated rate for households due to soaring fuel prices and other reasons. Soaring fuel costs are also affecting production sites, and product price hikes due to soaring electricity and gas rates and logistics costs in the manufacturing process are becoming conspicuous.

TEPCO EP will raise the regulated rate by 881 yen per month for households with standard usage from June usage. Subsidies to keep gasoline prices down will also be phased out from the same month, which might affect prices at stores.

According to a survey of 195 major food companies by Teikoku Databank, 3,322 items (as of April 28) are scheduled to raise prices in June.

House Foods raised the prices of roux and retort products. In addition to soaring raw material prices, increases in distribution costs and energy costs also had an impact. Nissin Foods also explained, “Energy costs continue to rise significantly.” Pizza Hut blames rising labor and fuel costs for deliveries. Nagatanien was also affected by soaring prices of seaweed. A person in charge said, “In recent years, the production volume has been declining due to multiple factors such as changes in the environment and a shortage of successors for producers.”

An official at Teikoku Databank said, “There is a possibility that rising energy costs such as electricity bills and rising labor costs due to wage hikes will have an impact.” (Tomoko Namiki)