Japan households' confidence hits 8-year high, inflation expectations rise
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SUNDAY, AUGUST 14, 2022
Japan households' confidence hits 8-year high, inflation expectations rise

Coronavirus chronicle

Reuters
07 April, 2021, 12:15 pm
Last modified: 07 April, 2021, 12:36 pm

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Japan households' confidence hits 8-year high, inflation expectations rise

More households saw income shrink and expect to slash expenditure a year from now, the survey showed, underscoring the patchy nature of Japan’s recovery

Reuters
07 April, 2021, 12:15 pm
Last modified: 07 April, 2021, 12:36 pm
 Shoppers wearing protective face masks walk on the street at Tsukiji outer market, amid the coronavirus disease (COVID-19) outbreak in Tokyo, Japan December 24, 2020. REUTERS/Issei Kato
Shoppers wearing protective face masks walk on the street at Tsukiji outer market, amid the coronavirus disease (COVID-19) outbreak in Tokyo, Japan December 24, 2020. REUTERS/Issei Kato

Japanese households' inflation expectations rose in March from three months ago and their confidence on the economic outlook improved to an eight-year high, a central bank survey showed, a sign the initial pain from the coronavirus pandemic was heeling.

The outcome offers some relief to policymakers struggling to balance the need to prevent a resurgence of Covid-19 infections while sustaining a moderate economic recovery.

The ratio of households which expect prices to rise a year from now stood at 62.4% in March, up from 60% in December, the Bank of Japan's survey showed on Wednesday.

A diffusion index measuring households' confidence on the economy a year from now stood at minus 8.5 in March, recovering sharply from minus 23.1 in December and marking the highest level since June 2013, the survey showed.

The poll follows a separate BOJ survey that showed business confidence improving to pre-pandemic levels in the first quarter as the economy benefited by robust global demand.

While the economy may have emerged from the pandemic's initial hit, a resurgence in infections and weak wage growth cloud the outlook for consumption.

More households saw income shrink and expect to slash expenditure a year from now, the survey showed, underscoring the patchy nature of Japan's recovery.

The survey will be among factors the BOJ will scrutinise when it conducts a quarterly review of its growth and price forecasts at its next rate review on April 26-27.

World+Biz

Japan Household / inflation / COVID-19

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