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Japan wages fall for 6th consecutive month

Japanese workers' real wages fell again in June, marking a decline for the sixth consecutive month, provisional data from the Ministry of Health, Labor and Welfare showed.

Real wages in Japan declined 0.5% year over year in June, after a revised drop of 1.3% in the previous month.

Total cash earnings rebounded in June with a 0.4% rise to ¥451,918, following a revised drop of 0.5% in May. Contractual cash earnings stalled in June at about ¥266,089, following a fall of 0.4% in the previous month.

Meanwhile, Japanese household spending rose 2.7% in June both in annual real terms and after discontinuity adjustments, to an average of ¥276,882, slowing from the 4.0% increase in May, data from the Ministry of Internal Affairs and Communications showed.

In nominal terms, adjusted household expenditure grew 3.5% year over year in June.

Spending on food climbed 1.0% in real terms and 2.4% in nominal terms, while housing expenditure fell 4.0% in real terms and 3.5% in nominal terms. Fuel, light and water expenditure rose 3.7% in real terms and 6.0% in nominal terms.

As of Aug. 5, US$1 was equivalent to ¥106.13.