Corporate service price declines for the first time in 3 months New Corona impact September 25, 11:49
Last month, the price level of services offered to businesses fell 0.8% from the same month last year, excluding the impact of the consumption tax hike, for the sixth straight month.
The rate of decline widened for the first time in three months, and recovery has stagnated.
The Bank of Japan surveys the prices of services provided to companies every month in order to understand economic and price trends.
According to this, last month's price, excluding the impact of the consumption tax hike, was 102.0, an index with an average of 100 in 2015, 0.8% lower than the same month last year.
It was the sixth consecutive month that it fell below the same month last year, and the rate of decline widened for the first time in three months.
Looking at the breakdown, many companies are refraining from business trips due to the influence of the new coronavirus, so accommodation services decreased by 38.3% and domestic air passenger transportation decreased by 10.3%.
The Bank of Japan said, "Last month, the rate of decline began to widen again, and recovery has stagnated. The outlook remains uncertain depending on the trend of the spread of infection."