Corporate service price level fell for 5 consecutive months Impact of new corona 12:57 on August 26
Last month, prices for services offered to businesses fell 0.6% from the same month last year, excluding the impact of the consumption tax hike, for the fifth consecutive month. The reason is that the price of accommodation has dropped due to the company's suspension of business trips due to the spread of the new coronavirus.
The BOJ monthly surveys the prices of services provided to companies to understand trends in the economy and prices.
As a result, excluding the impact of the consumption tax hike, last month's price was 102.2, with the 2015 average being 100, a decrease of 0.6% compared to the same month last year.
The rate of decline has narrowed slightly compared to the previous month, but since March this year it has fallen below last year for the fifth consecutive month.
Looking at the breakdown, “accommodation services” decreased by 36.7% due to the influence of companies suspending business trips due to the spread of the new coronavirus, and airfares dropped, and “domestic air passenger transportation” decreased by 2.7%. was.
On the other hand, advertising and real estate improved slightly compared to the previous month, leading to a reduction in the overall decline.
The Bank of Japan says, "Compared to the one-time period, the resumption of economic activity has eased the downward pressure from the spread of infection. ..