Japan Consumer Sentiment Falls in April amid Iran Crisis

Tokyo, April 30 (Jiji Press)–Consumer sentiment in Japan fell for the second consecutive month in April, hit by rising tensions over Iran, a Cabinet Office survey showed Thursday. The seasonally adjusted consumer confidence index, which covers households with two or more members, declined 1.1 points from the previous month to 32.2. The result apparently suggested that consumers are on high alert for rising prices amid soaring crude oil prices blamed on the Middle East crisis. The index marked its lowest reading since April last year, when it came to 31.5 due to fears of an economic slowdown linked to the high tariff policy of U.S. President Donald Trump’s administration. Of the four indicators comprising the index, three deteriorated in the latest reporting month, including those for overall living conditions and willingness to buy durable goods. The Cabinet Office kept its basic assessment unchanged, saying that consumer sentiment is showing signs of weakening. The proportion of households expecting prices in Japan to rise in a year’s time came to 93.6 pct, up 0.5 percentage point from March. Among them, those foreseeing inflation of 5 pct or more accounted for 58.1 pct, up 4.7 points and marking the highest level since April last year. END [Copyright The Jiji Press, Ltd.]