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Japanese wages in January drop at fastest pace in 6 months

Japan's wages fell in January at their fastest pace in six months, continuing a downward direction in December, Reuters reported.

Real wages fell 0.9% in January from the prior-year period, labor ministry data showed. The figure followed a 0.3% annual decrease in December 2017, and marked the biggest fall since a 1.1% annual decrease in July 2017.

The fall in real wages suggests the Bank of Japan's 2% inflation target is likely to remain a distant goal despite almost five years of massive stimulus spending.

Falling real wages also suggest the government would have to struggle to convince companies to raise wages by 3% or more this year at annual negotiations with labor unions.