Wednesday, 16th April 2008
In General Japan News,
Price rises affect Japanese households
New data has revealed the extent to which households in Japan have been affected by recent consumer price increases.
According to data released by the country's cabinet office, the number of households who have been seriously affected has now exceeded 40 per cent, reports Mainichi Daily News.
In February, consumer prices in Japan increased to a level not seen for a decade, according to a report by the Financial Times (FT).
"Japan doesn't have any domestically-generated inflation and the growth profile of the economy has at the very least flattened out," said Ian Bright, an economist and strategist at Pali International.
"It wouldn't take much to push it into recession if the export engine turned off."
The FT report also noted that, combined with rising prices, Japanese disposable income is being negatively affected by rising unemployment levels.
Japan's cabinet office data is 5.2 per cent higher than the previous month.
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