MNI BRIEF: Japan Jan Consumer Confidence Hits 4th Straight Rise

Japan's consumer confidence index posted its fourth straight rise in January to 38.0 from 37.2 in December as all components improved from the previous month, easing concern over weaker spending after the Jan 1 earthquake, prompting the Cabinet Office to update its assessment for the second straight month, data showed on Wednesday.

The January’s rise supported the Bank of Japan’s view that private consumption continued to be hit by high prices despite spending increasing moderately.

The sub-index on asset prices, not included in calculating overall consumer confidence, stood at 43.9 in January, up from 41.4 in December. The share of respondents projecting consumer price gains rose to 91.1% in January from 90.8% in December. The share of respondents forecasting lower prices stood at 2.7%, up from 2.6% in December.