In February, the price level of services offered to businesses rose 1.1% from the same month last year, rising for the 12th straight month.
Demand for business hotels is recovering and prices of accommodation services are rising sharply, and the Bank of Japan analyzes that infection control and economic activities have been balanced to some extent even though priority measures such as spread prevention have been applied.
Every month, the Bank of Japan surveys the prices of various services provided to businesses and publishes them as an index.
According to it, the preliminary figures for February were 105.7, which is an index with the average of 2015 as 100, 1.1% higher than the same month last year, and increased for 12 consecutive months.
This is because the resumption of economic activities has begun in earnest, transportation costs for raw materials such as oil and air freight rates have continued to rise, and demand for business hotels has recovered due to business trips, resulting in higher prices for accommodation services. The main factor is the large rise.
The Bank of Japan analyzes that infection control and economic activities have been balanced to some extent even though priority measures such as spread prevention have been applied.
Regarding the outlook, the Bank of Japan said, "The situation in Ukraine may affect service prices, so we will carefully monitor the trends."