Japanese Wages Drop for 16th Month as Inflation Outpaces Pay

Japanese real wages fell 2.5% in July 2022 compared to a year earlier, marking the 16th straight month of decline.
Falling real wages indicate consumers' purchasing power is decreasing as salaries fail to keep up with rising prices.
Inflation-adjusted wages have fallen as Japan faces rising inflation, with the consumer price index up 3.9% in July.
Nominal wage growth slowed to 1.3% in July from 2.3% in June, while base annual salaries rose just 1.6%.
Separate data showed Japanese household spending suffered its biggest drop in 2.5 years in July, falling 5% from a year earlier.

reuters.com

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Posted 9/8/2023, 8:17:30 PM