Fears of deflation are once again haunting Japan’s food producers and retailers despite the economy moving out of yet another deep recession.
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As price competition intensifies, top food producers such as Morinaga & Co and Nestle Japan are planning to cut prices on some key food items despite high ingredient costs.
A spokesperson for Nestle acknowledged that deflation is once more likely to become a problem in Japan, with low prices hurting profitability.
However, the spokesperson said Nestle is confident that such market conditions will not last.
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By GlobalData
