Consumer Confidence Index Takes a Hit

Japan's seasonally adjusted Consumer Confidence Index experienced a decline in March, dropping by 0.9 points to settle at 34.1. This data, released by the country's Cabinet Office on Wednesday, highlights a slight downturn in consumer sentiment.

Breaking Down the Components

The overall livelihood index saw a decrease of 0.6 points from the previous month, landing at 30.9. Meanwhile, 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 38.8, and the willingness to buy durable goods increased by 0.2 points.

Public Perception on Prices

Survey respondents expecting prices to fall in the upcoming year decreased by 0.3% month-on-month to 2.1%. Conversely, 93.9% of respondents anticipated prices would rise, marking a 0.6% increase. A slight decrease of 0.1% was noted in those who believed prices would remain unchanged.