BOJ tankan: Japan firms expect CPI to rise 0.7% a year from now

A craftworker operates a traditional Japanese textile weaving machine during a demonstration at the Monozukuri/Takumi no Waza Expo in Tokyo, Japan, on Wednesday, Aug. 10, 2016.
Kiyoshi Ota | Bloomberg | Getty Images

Japanese companies expect consumer prices to rise an average 0.7 percent a year from now, unchanged from their projection three months ago, a central bank survey showed on Tuesday.

Three months ago, companies expected prices to rise 0.7 percent over the next year.

Firms polled by the BOJ, as part of its detailed "tankan" survey for March, also said they expect consumer prices to rise an annual 1.0 percent three years from now and an annual 1.1 percent five years from now.

The BOJ started the survey on corporate price expectations from the tankan in March 2014 to gather more information on inflation expectations, key to its current stimulus programme.