In Japan OM Digital increased the price of two zoom lenses by 16%

OM System announced the price increase on the following lenses:

M.ZUIKO DIGITAL ED 7-14mm F2.8 PRO
・225,500 yen Before revision
・264,000 yen After revision
M.ZUIKO DIGITAL ED 40-150mm F2.8 PRO
・247,500 yen Before revision
・286,000 yen After revision

Google translated text:

OM Digital Solutions Co., Ltd. will revise the shipping prices and suggested retail prices of some products from May 16, 2024 (Thursday).
As raw material costs, manufacturing and logistics costs have skyrocketed in recent years, we have made every effort to maintain prices by improving productivity and reducing costs through rationalization. However, it has become difficult to maintain current prices through such corporate efforts alone.
Therefore, we will be implementing price revisions for some products as shown below. We will continue to strive to deliver high-quality products and services to our customers, and we appreciate your understanding and cooperation.
Shipping price and suggested retail price revision Implementation date: May 16, 2024
Price revision rate: approx. 16-17% increase

My guess is that this is only an issue in Japan. Mainly because the YEN lost quite a bit of value compared to the US dollar. And Japan imports the RAW material from abroad.