February 14, 2023
TOKYO – The average retail price for a piece of chocolate for Valentine’s Day this year is ¥390 including tax, up by 7%, or ¥25, from the previous year, according to Teikoku Databank.
Soaring costs for ingredients, such as cacao beans, sugar and milk, are driving the hike, with some brands raising prices by about ¥100.
Teikoku Databank surveyed the prices of 135 brands sold in department stores, shopping malls and confectionery shops. Of these, about 60%, or 80 brands, raised their prices.
The price per piece was found to be ¥355 for domestic brands, ¥18 higher than the previous year, compared to ¥433 for imported brands from France, Belgium and other countries, which were up by ¥33. Imported chocolate prices were apparently affected by the weak yen.