Price hikes to likely weigh on Japan households from summer onward

Households will likely receive a further blow as companies reflect rising costs, stemming from high crude oil prices, in their goods and services prices in and after summer, putting a drag on economic growth. Japan’s gross domestic product in April-June grew 0.3% from the previous quarter after price and seasonal adjustments, representing a 1.1% annualized rise. Both private consumption and corporate capital investment, however, posted declines, highlighting weakness in the Asian nation’s domestic demand.