Govt Official Warns Of Impact of High Prices on Sentiment

High prices caused by surging crude oil prices will have an adverse impact on consumer sentiment in the coming months, a senior official at the Cabinet Office said on Tuesday. Japanese consumer spending has been clearly falling since mid-January on the back of the quasi-emergency measures to combat the spread of Omicron and a slower pace of vaccinations, high-frequency data showed. “If the high costs will not be transferred to retail prices, corporate profits will be squeezed,” the official told reporters, adding it is still uncertain how private consumption will evolve for the rest of the first quarter - on MNI Policy MainWire now, for more details please contact sales@marketnews.com.