Household budgets will likely be squeezed this year with price hikes on a variety of products - from food to commodities - because manufacturers are set to boost prices to cope with the yen's continuing depreciation and increasing prices for raw materials.
In January, Nissin Food Products Co., Toyo Suisan Kaisha, Ltd. and other major instant noodle manufacturers will hike prices for their mainstream products, while companies producing cooking oil, pasta and tissue paper will follow suit.
This trend will continue in February and onward mainly among food makers that rely on imported raw materials to produce their items.
House Foods Corp., for example, will increase the price of its curry roux and retort pouch products from February, while some major ice cream companies will increase prices of their leading products from March.Speech