Tokyo, Japan - July 3, 2024

Storyline:
The prices of more than 400 kinds of food in Japan have risen so far in July, with the prices of various imported fruits hitting new highs due to depreciation of the Japanese yen.

So far in July, the prices of 411 food items climbed in the country, with the markups of imported red wine, whiskey and other goods increasing significantly, some of which even going up by as much as 50 percent.

The rise in the prices of cocoa beans and coffee beans has driven up related food and beverage prices.

At the same time, the prices of fruits imported from Southeast Asia have also risen rapidly, with the wholesale price of bananas hitting a five-year high and that of pineapples reaching an all-time high.

Since the beginning of 2024, the number of food products whose prices have been or are planned to be raised has exceeded 10,000, the third consecutive year to pass this number.

According to statistics released by the relevant survey institutions, since 2021, aquatic products, egg products and snacks have seen the largest price increases in Japan, with an overall uptick of more than 20 percent.

Japan's consumer price index, or the core CPI, went up 2.8 percent in the fiscal year 2023 ending by March 2024, with the markup of food excluding fresh food hitting a 48-year high.

The Japanese yen continued to drop further to a 38-year low against the U.S. dollar on Wednesday, Japanese media Nikkei reported.

The U.S. dollar rose to as high as 161.83 yen in New York, marking the Japanese currency's weakest level since December 1986.

Shotlist:
Tokyo, Japan - July 3, 2024:
1. Various of consumers, products at supermarket.

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