* This is an English translation of Japanese original released on April 15, 2004.

May 31, 2004
Bank of Japan
Public Relations Department

Click on ron0405b.pdf (194KB) to download the full text.

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I. Introduction

The Bank of Japan, through public relations activities conducted at its head office and branches, has been seeking to determine the concerns of a broad cross-section of the general public relative to its policy and operations. An example of such action is the Bank's Opinion Survey on the General Public's Mindset and Behavior, conducted since 1993 with a nationwide sample of 4,000 individuals who are at least 20 years of age. This survey is essentially an opinion poll designed to gain insight into the public's perceptions and actions, and therefore differs in character from the Bank's Tankan (Short-Term Economic Survey of Enterprises in Japan), which is a quarterly statistical indicator.

Starting with this 18th survey, new questions regarding prices¹ have been added, which asked respondents to put a specific figure on (1) what percent the prices have changed compared with one year ago and (2) what percent the prices will change in one year and over the next five years. These questions were designed so as to more specifically comprehend the general public's perception of changes in the price levels.

In addition, the Bank has decided to now conduct the survey quarterly, instead of semiannually, in order to more closely keep track of the general public's mindset and behavior. Note: 1. Defined as "overall prices of goods and services the respondents purchase."

II. Survey Outline

Survey period:	From March 5 to March 15, 2004.
Sample size:	4,000 people (2,832 people [i.e., 70.8 percent of the overall sample size] provided valid responses to questions).
Survey sample participants:	Individuals living in Japan who are at least 20 years of age.
Sampling method:	Stratified two-stage random sampling method.
Survey methodology:	Questionnaire survey. (Researchers visit sample individuals, ask them to complete the questionnaire within a prescribed period, and then collect the finished questionnaires upon subsequent visits.)