Corporate service prices fall for 7 consecutive months, down 0.5% from the same month last year, October 26, 11:33
Last month, the price levels of various services offered to businesses fell 0.5% from the same month last year, excluding the impact of the consumption tax hike, for the seventh straight month.
The Bank of Japan surveys the prices of services provided to companies every month and publishes them as an index in order to grasp trends in the economy and prices.
According to this, last month's price index, excluding the impact of the consumption tax hike, was 102.2 with an average of 100 in 2015, down 0.5% from the same month last year.
This is the seventh consecutive month that the index has fallen.
Looking at the breakdown, many companies have forgotten business trips due to the impact of the new coronavirus, so accommodation services accounted for minus 33.1%, and domestic airline passenger transportation accounted for minus 6.1%.
The Bank of Japan says, "Corporate activities are still restrained and it takes time to recover. I would like to see how much the price level of accommodation services will recover due to the government's support measures."