Japan Data

Bank of Japan Reports 94.5% of Japanese Feeling the Squeeze of Price Rises

Economy Society

A survey by the Bank of Japan found that 94.5% of respondents felt prices had risen compared to one year ago, and 62.8% said they had risen considerably.

In a March survey conducted by the Bank of Japan, 94.5% of respondents felt that prices had risen compared to one year ago. This included 62.8% who said they had “risen considerably,” which is the second highest level recorded, after the September 2008 survey with 94.6%. The survey is aimed at individuals in Japan aged 20 or over and is conducted every three months. The latest survey ran from February 3 through March 1 and received responses from 1,981 people.

Percentage of Respondents Saying Price Levels Have Risen

Concerning their current living circumstances, 56.0% answered that they had “become worse off,” marking the third consecutive quarter that more than 50% of respondents felt that way. Almost half of respondents over the last three surveys said that their income had remained the same, while there was a gradual increase in the number of people saying their spending costs had risen.

Present Income Compared with One Year Ago

Present Spending Compared with One Year Ago

Most respondents’ reported increased spending went on food. This was followed by daily necessities (such as detergent and sundries) and electrical appliances. The rising prices of daily necessities have forced people to up their expenditure, which is putting pressure on their household budgets.

Increased Expenditure Compared with One Year Ago by Category

Decreased Expenditure Compared with One Year Ago by Category

(Translated from Japanese. Banner photo © Pixta.)

Bank of Japan economy inflation prices