According to BoJ’s December public opinion survey, 78.8% of the respondents said they expect price levels to go up one year from now. That’s a notable increase from September’s 68.2% and the highest level since 2019. Among them, 13.4% said prices will go up significantly, comparing to September’s 8.4%.
On outlook for economic conditions one year from now, 26.0% said it will improve, up from 16.6%. 52.5% said it will remain the same, up from 46.1%. 21.0% said it will worsen, down from 36.4%. The Diffusion Index rose from -19.8% to 5.0%.
