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Japanese household spending rises in August

The average monthly spending per household in Japan came in at ¥292,481 in August up 4.3% in nominal terms and up 2.8% in real terms from the previous year, data from the Ministry of Internal Affairs and Communications showed.

Based on discontinuity-adjusted figures, household spending in August rose 4.3% in nominal terms and was up 2.8% in real terms from the previous year.

Items with the highest annual increases in spending were education, up 25% in real terms; transportation and communication, 15.1%; and medical care up 7.1%. In contrast, decreased spending was noted in culture and recreation, 4.1% and fuel, light and water charges, 1.8%.

The average monthly income per household came in at ¥510,437 in August, up 5.2% in nominal terms and up 3.6% in real terms from the previous year. Adjusted for discontinuity, the average monthly income edged up 0.9% in nominal terms but down 0.6% in real terms from the previous year.

As of Oct. 4, US$1 was equivalent to ¥113.83.