Japan's household spending fell 0.5% year-on-year in February, marking the 12th consecutive month of decline due to inflation.

Japan's household spending fell 0.5% in February from a year earlier, marking the 12th consecutive month of decline, but was slightly better than the median market forecast for a 3.0% drop. The decline in spending is attributed to persistent inflation, with the key nationwide gauge for consumer inflation hovering at or above the Bank of Japan's 2% target for almost two years. Despite large pay gains last fiscal year, real wages have fallen for 22 consecutive months.

April 05, 2024
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