MNI BRIEF: Japan Aug Confidence Index Unchanged

MNI (TOKYO) - Japan's consumer confidence index in August was unchanged from July as two out of four components rose from the previous month and the government left its assessment that consumer confidence is marking time, data released by the Cabinet Office on Thursday showed.

The indexes linked to overall economic well-being and the willingness to buy durable goods increased, but the indexes linked to income conditions and the labour market fell.

The consumer confidence index stood at 36.7 in August, unchanged from the previous month, the latest Consumer Confidence Survey conducted from August 6-20 showed. The sub-index on asset prices, not included in calculating overall consumer confidence, stood at 40.0 in August, down from 45.3 in July.

The share of respondents projecting consumer price gains fell to 92.1% in August from 93.2 in July. The share of respondents forecasting lower prices stood at 2.3%, up from 1.9% in July.

The share of respondents who expected the consumer price index to rise more than 5% a year ahead fell to 42.7% in August from 45.5% in July.

An official at the Cabinet Office told reporters that corporate price hikes continued, but the number of people who are expecting to see higher prices decreased.