Rising Prices Affecting 80 Pct of Families in Japan: Survey

Tokyo, Oct. 9 (Jiji Press)–Some 80 pct of households in Japan have felt the impact of rising prices on their family budgets, a survey conducted by Sumitomo Life Insurance Co. in early September showed Thursday. The online survey, which covered 5,484 people in their 20s to 60s from across the country who are working as regular employees, showed that 82.9 pct said their household budgets had been affected by inflation, up from 78.9 pct in the previous year’s survey. Of the respondents affected by inflation, 91.3 pct said price increases had impacted their food expenses, while 61.5 pct felt the impact on electricity bills. Over half of the respondents answered that their cost of living had increased, with average monthly living expenses rising by 9,636 yen. Regarding rice, whose prices have spiked in the country, 26.4 pct said they had avoided buying the staple due to the high prices. When asked what they considered to be a reasonable price for rice per 5 kilograms, 34.0 pct, the largest proportion, answered 2,000 yen or under. Meanwhile, the survey also showed that only 14.3 pct expected their annual income to increase from last year, while 77.9 pct answered it would remain the same. These results suggest that there is still a significant gap between inflation and income growth in Japan. END [Copyright The Jiji Press, Ltd.]