Japan to raise prices on over three thousand food items in October

Research firm Teikoku Databank reports that 3,153 food and beverage items will become more expensive in October. The hikes follow a September surge affecting 4,965 items, which the firm calls another wave of price rises. Rising crude oil and naphtha prices linked to the Middle East conflict have lifted packaging material costs, while a depreciating yen has increased import prices, prompting firms to pass costs onto consumers.