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MNI BRIEF: More Japanese Households Note Higher Prices - BOJ

(MNI) TOKYO

More Japanese households are feeling pressure from higher prices, increasing concerns private consumption could lose momentum over the coming months, according to the Bank of Japan’s quarterly consumer survey.

The proportion of respondents who claimed household circumstances worsened rose to 56% in March from 53% in December due to inflation. The number of people who said prices had risen increased to 90.4% from 88.4%. The proportion of respondents who said prices had increased compared to a year ago stood at 94.5% in March, up from 94.3% in December, while the average rate rose to 14.6% from 12.1%. However, 75.4% noted prices would rise within five years, down from 76.7% in December, while 7% of respondents expect prices to fall, up from 6.5%.

The diffusion index to gauge households' sentiment on current economic conditions rose 4.7 points to -57.1 in March, with more people saying sentiment had improved, the survey showed. The consumer sentiment outlook index projecting conditions a year ahead also rose for the first time in five quarters, up 9.9 points to -27.2 in March from -37.1 in December.

MNI Tokyo Bureau | +81 90-2175-0040 | hiroshi.inoue@marketnews.com
MNI Tokyo Bureau | +81 90-2175-0040 | hiroshi.inoue@marketnews.com

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