Japan Consumer Sentiment Hits 7-Year High in Feb.

Tokyo, March 5 (Jiji Press)–Consumer sentiment in Japan improved to the highest level in about seven years in February as rice and fresh vegetable prices paused their recent surge, a survey released by the Cabinet Office on Wednesday showed. The impact of an escalation in the Middle East conflict following the U.S. and Israeli bombing of Iran may become a source of concern for Japanese households. “It is necessary to closely monitor oil and other prices,” a Cabinet Office official said. The seasonally adjusted consumer confidence index, which measures sentiment among households with two or more members, increased 2.1 points in February from the previous month to 40.0, improving for two consecutive months. The Cabinet Office raised its basic view, saying that consumer sentiment is showing signs of improvement. In January, it said sentiment was picking up. The survey also showed that the proportion of respondents who expected prices to rise over the next year fell 5.7 percentage points to 85.6 pct in February, the lowest level since September 2021. END [Copyright The Jiji Press, Ltd.]