Consumer Confidence Takes a Slight Hit in March

Japan's seasonally adjusted Consumer Confidence Index experienced a decline in March, dropping by 0.9 points to settle at 34.1, as reported by the country's Cabinet Office on Wednesday.

Breaking Down the Index Components

The overall livelihood index saw a decrease of 0.6 points from the previous month, reaching 30.9, while the employment index contracted by 1.7 points, ending at 39.2. On a brighter note, the income growth indicator rose by 0.7 points to stand at 38.8, and the willingness to buy durable goods saw a slight increase of 0.2 points.

Public Perception on Price Movements

Interestingly, only 2.1% of survey respondents anticipated prices to fall in the upcoming year, marking a 0.3% decrease month-on-month. Conversely, a significant 93.9% of respondents expected prices to rise, an increase of 0.6%. Meanwhile, there was a negligible 0.1% decrease in those who believed prices would remain unchanged.