A Bank of Japan survey showed Wednesday that consumer sentiment worsened for the first time in three quarters as a rise in energy prices amid a lack of major wage increases negatively affected their views on the economy.
The central bank’s survey of the general public showed that the diffusion index measuring the current state of the economy fell to minus 8.3 from minus 4.8.
The index is calculated by subtracting the percentage of those saying the economy is bad from those saying it is good.
Of the poll of 2,252 consumers, 83% of respondents said they expect the prices of goods and services to rise over the coming year. That’s higher than 80.2% in the previous June survey.
The survey also showed that 16.2% of the respondents see the economy improving in coming year, down from the previous 24.3%.
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