Price hike for Japan's beloved cheap snack
Japan's beloved Umaibo snack is going up in price
for the first time in 43 years
In 1979, the corn puff snack was priced at 10 yen
from April it will cost 12 yen, or $0.11
The Umaibo snack, meaning 'delicious stick'
had defined Japan's low growth for decades
by keeping its price unchanged
Now, Japanese companies are being squeezed
as the weak yen drives up import costs
and raw material costs increase
63-YEAR-OLD STOCK CLERK AT SNACK SHOP KAWAHARA SHOTEN, TAKESHI NEMOTO, SAYING:
"There's nothing we can do. From a producer's point of view, they cannot secure profit anymore unless they raise the price. This will also create problems for cheap snacks in the future because I think they will find it hard to survive as an attractive cheap product."
(SOUNDBITE) (Japanese) 51-YEAR-OLD HOUSEWIFE, NAOMI HOSAKA, SAYING:"I never imagined an impact on cheap snacks, something that kids can easily buy, so I'm a bit sad and surprised."
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