90 percent of households in Japan feeling inflationary pinch: survey

Nov 12, 2023 | News On Japan

TOKYO - As consumer prices continue to rise in Japan, a recent survey indicates that 90% of households are experiencing financial strain.

Sumitomo Life Insurance surveyed 5,566 working-age men and women nationwide, with 89.7% of the respondents answering that rising prices are having an impact on their household finances, either 'significantly' or 'to some extent'.

When those who answered 'significantly' were asked which expenses were affected, the highest was 'food expenses' at 93.2%, followed by 'electricity bills' at 76.4%, and 'gasoline costs' at 60.9%.

88% of respondents said living expenses had 'increased,' with the average monthly cost of living rising by 8,043 yen to 22,825 yen since last year.

80.2% of people have tightened their budget, with 'food costs' being the most reduced expense at 48.7%, followed by 'clothing' at 26.3%.

Approximately 25% also mentioned cutting back on 'personal spending money' and 'socializing expenses'.

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