A Bank of Japan survey released on July 14 showed that 61% of respondents say they feel "less financially comfortable" than a year ago, making the highest level in 16 years since March 2009.

More than 90% of respondents attributed the cause to rising prices.

More than 60% of respondents answered that their household spending “has increased.”

Compared to a year ago, more than 40% said they have not changed their spending on living expenses and education.

Meanwhile, 54.4% said they have cut back on spending for hobbies and leisure activities.