Japanese Workers' Real Wages Extend Losing Streak to 23 Months as Inflation Erodes Pay Gains

Japanese workers' real wages fell 1.3% in February, marking the 23rd straight month of declines
The drop comes as consumer price growth accelerated to 2.8% in February, outpacing nominal wage growth
Economists expect real wages to turn positive by mid-year as companies deliver on wage hike commitments
Aging demographics have led to labor shortages, forcing companies to compete for workers with wage hikes
Uncertainty remains around the inflation outlook due to upcoming utility subsidy cuts and yen depreciation