A survey of major companies in Japan shows that more than 80 percent of respondents expect to raise prices of their products and services in 2025. Many cited growing costs of raw materials, energy and labor.

NHK conducted the survey between mid-December and mid-January, covering 100 firms. Sixty-eight of them responded.

Eighty-four percent of the respondents said they expect to generally increase prices this year.

Fifteen percent said they expect to largely maintain the current levels, while 1 percent said they expect a reduction overall.

The survey asked the companies forecasting increases why they may take the move. Multiple answers were allowed.

The largest number of firms pointed to growing prices of raw materials and energy. It was followed by the need to fund hikes in wages and other personnel costs. Plans to improve the bottom line through sustained price rises were also cited.

The survey also asked the firms expecting to keep or lower present price levels why they may take such moves.

Their answers included a possible loss of customers through price hikes, strategies to enhance price competitiveness, and plans to absorb cost increases through such efforts as overhauling production systems.