Tokyo, Oct. 13 (Jiji Press)–The proportion of people in Japan who expect prices to be higher in five years rose to 86.5 pct, the highest level in 19 years, a quarterly Bank of Japan opinion survey showed Tuesday. The results of the latest September survey indicated that an increasing number of people expect inflation to persist due to factors such as rising crude oil prices amid the war in the Middle East. The diffusion index for economic conditions, or the percentage of respondents who think conditions have improved from a year before minus that of those who think oppositely, improved 3.7 points from the previous June survey to minus 53. The income DI, or the percentage of respondents who think their income has increased from a year before minus that of those feeling the opposite, climbed to minus 5.4, the highest level on record. The survey showed that 54.4 pct of respondents said that their living conditions have become more severe than a year before, with over 90 pct of them citing rising prices as the reason for the worsening conditions. The results highlighted that rising prices weigh heavily on people’s sentiment, although perceptions of the economy and income conditions are improving. The survey was conducted between Aug. 3 and Sept. 4, covering 4,000 people aged 20 or older nationwide. Valid responses came from 1,972 people. END [Copyright The Jiji Press, Ltd.]
