Consumer inflationary expectations stayed near a record as rising prices of daily necessities put pressure on households, according to a Bank of Japan survey released Thursday.
Some 86 percent of consumers surveyed Feb. 8 to March 7 said they expect prices to climb this year, the BOJ said in a quarterly report. Rising prices of daily necessities, including bread and milk, are squeezing consumers, whose average wages fell in 2007 at their fastest pace in three years. Household spending stalled in February, a blow to an economy that relies on consumers for more than half of its gross domestic product.
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