77 Pct Feel Prices Higher, Highest in 6 Yrs: BOJ Survey

Economy

Tokyo, Jan. 11 (Jiji Press)--The proportion of people feeling prices are now higher than a year before is at a six-year high, a Bank of Japan quarterly survey suggested Tuesday.

In the December survey, 77.4 pct of respondents said prices were higher. The figure climbed from 61.5 pct in the previous survey and hit the highest level since December 2015, when the proportion stood at 78.8 pct.

The BOJ attributed the latest result mainly to higher gasoline prices, while citing the 2014 consumption tax hike as a factor behind the December 2015 result.

The latest survey was conducted between Nov. 5 and Dec. 1, collecting valid responses from 2,216 people aged 20 or older across the country.

Asked how much prices changed year on year, respondents pointed to a rise of 6.3 pct on average, the sharpest increase since the March 2009 survey showed 6.4 pct.

[Copyright The Jiji Press, Ltd.]

Jiji Press