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Results of the 95th Opinion Survey on the General Public's Views and Behavior (September 2023 Survey)

October 13, 2023
Public Relations Department
Bank of Japan

Survey Outline

  • Survey period : From August 4 to September 1, 2023.
  • Population of the Survey : Individuals living in Japan who are at least 20 years of age.
  • Sample size : 4,000 people (2,016 people [i.e., 50.4 percent of the overall sample size] provided valid responses to questions).
  • Sampling method : Stratified two-stage random sampling method.
  • Survey methodology : Mail survey method (responses collected by mail or via the internet).
Impression of Present Economic Conditions Compared with One Year AgoPercent, percentage points
92nd survey
(Dec 2022)		 93rd survey
(Mar 2023)		 94th survey
(Jun 2023)		 95th survey
(Sep 2023)
Have improved (A) 5.2 6.8 13.7 12.5
Have remained the same 27.1 28.8 36.3 31.9
Have worsened (B) 67.0 63.9 49.6 55.0
D.I. (A) minus (B) -61.8 -57.1 -35.9 -42.5
Outlook for Economic Conditions One Year from NowPercent, percentage points
92nd survey
(Dec 2022)		 93rd survey
(Mar 2023)		 94th survey
(Jun 2023)		 95th survey
(Sep 2023)
Will improve (A) 9.1 13.1 16.6 10.5
Will remain the same 44.4 45.9 50.5 48.2
Will worsen (B) 46.2 40.3 32.4 40.6
D.I. (A) minus (B) -37.1 -27.2 -15.8 -30.1
Impression of Present Household Circumstances Compared with One Year AgoPercent, percentage points
92nd survey
(Dec 2022)		 93rd survey
(Mar 2023)		 94th survey
(Jun 2023)		 95th survey
(Sep 2023)
Have become better off (A) 3.7 3.8 4.1 3.1
Difficult to say 42.4 39.7 38.3 38.6
Have become worse off (B) 53.0 56.0 56.8 57.4
D.I. (A) minus (B) -49.3 -52.2 -52.7 -54.3
Perception of the Present Price Levels Compared with One Year AgoPercent
92nd survey
(Dec 2022)		 93rd survey
(Mar 2023)		 94th survey
(Jun 2023)		 95th survey
(Sep 2023)
Have gone up significantly 52.7 62.8 66.3 68.4
Have gone up slightly 41.6 31.7 29.2 27.1
Have been almost unchanged 3.6 3.2 2.1 3.0
Have gone down slightly 0.7 0.6 0.5 0.3
Have gone down significantly 0.7 0.7 0.5 0.3
Outlook for Price Levels One Year from NowPercent
92nd survey
(Dec 2022)		 93rd survey
(Mar 2023)		 94th survey
(Jun 2023)		 95th survey
(Sep 2023)
Will go up significantly 32.5 33.1 28.2 31.6
Will go up slightly 52.5 52.6 58.1 55.2
Will be almost unchanged 11.9 10.9 10.5 9.9
Will go down slightly 2.0 2.1 1.8 1.9
Will go down significantly 0.4 0.5 0.1 0.2
One of the Bank's Objectives Is to Achieve Price StabilityPercent
92nd survey
(Dec 2022)		 93rd survey
(Mar 2023)		 94th survey
(Jun 2023)		 95th survey
(Sep 2023)
Know about it 30.7 - 31.4 -
Have read or heard of it, but do not know much about it 45.4 - 45.1 -
Have never heard of it 23.2 - 23.2 -
The Bank Has Set the Price Stability Target at 2 Percent in terms of the Year-on-Year Rate of Change in the CPI Percent
92nd survey
(Dec 2022)		 93rd survey
(Mar 2023)		 94th survey
(Jun 2023)		 95th survey
(Sep 2023)
Know about it 25.6 26.0 26.0 26.1
Have read or heard of it, but do not know much about it 32.8 30.1 32.6 30.5
Have never heard of it 41.0 43.0 41.2 42.3
The Bank Has Been Implementing Aggressive Monetary Easing Measures to Achieve the Price Stability Target of 2 Percent Percent
92nd survey
(Dec 2022)		 93rd survey
(Mar 2023)		 94th survey
(Jun 2023)		 95th survey
(Sep 2023)
Know about it 41.8 32.4 40.4 29.4
Have read or heard of it, but do not know much about it 37.4 34.2 38.0 36.8
Have never heard of it 20.1 32.6 21.1 32.4
The Bank Has Been Conducting "Quantitative and Qualitative Monetary Easing (QQE) with Yield Curve Control" Percent
92nd survey
(Dec 2022)		 93rd survey
(Mar 2023)		 94th survey
(Jun 2023)		 95th survey
(Sep 2023)
Know about it 22.9 16.7 21.7 16.6
Have read or heard of it, but do not know much about it 36.1 32.0 37.3 33.2
Have never heard of it 40.6 50.4 40.5 48.8
Confidence in the BankPercent
92nd survey
(Dec 2022)		 93rd survey
(Mar 2023)		 94th survey
(Jun 2023)		 95th survey
(Sep 2023)
Confident 10.8 - 11.1 -
Somewhat confident 28.7 - 32.2 -
Difficult to say 48.0 - 45.4 -
Not particularly confident 7.6 - 7.4 -
Not confident 3.9 - 3.2 -

Inquiries

Planning and Analysis Group, Public Relations Department

E-mail : prdmail(at)boj.or.jp
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