Japanese merchant sentiments held near a six-year low in February as soaring oil and food prices sapped consumer spending power, the government said Monday.
The Economy Watchers index, a survey of barbers, taxi drivers and others who deal with consumers, rose to 33.6 from 31.8 in January, the Cabinet Office said.
Crude oil rose to a record $106.54 a barrel last week, indicating households will continue to bear the burden of high energy prices. Falling business investment and shrinking corporate profits suggest consumers in the world's second-largest economy won't get higher wages even as they face the highest inflation rate in almost a decade.
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