TOKYO -- Expectations of inflation among Japanese households have fallen to the lowest point since the Bank of Japan launched its massive monetary easing program in April 2013, a survey by the central bank released Monday shows.
Just 75.7% of respondents expect prices to be higher in a year, the lowest since March 2013 and down from more than 80% between June 2014 and September 2015. The figure fell 1.9 percentage points from the previous December survey, marking a third straight decline.
The percentage of households who said prices have risen over the past year dropped 8.3 points to 70.5%. Of these, 83.9% expressed concern about the increase.
On the topic of interest rates, 65.1% replied that they are too low, a 13.2-point jump from December and the highest figure since the central bank began asking the question in June 2006. Just 24.8% said that current levels are appropriate, while 7.1% said rates are too high.
The BOJ surveyed 4,000 people between Feb. 5 and March 3, with 2,146 responding.