A customer picks a snack at a supermarket in Tokyo, Japan, on Tuesday, July 27, 2021.
Norico Hayshi Bloomberg Gety pictures
Family spending in Japan increased in December by 2.7 % on an annual basis, which dramatically won the expectations of the economists covered by Reuters and put its first increase since July 2024.
The figure sharply defeated Reuters expectations, an increase of 0.2 %, which enhances the case to raise the other interest rate from the Bank of Japan.
According to Friday Report from the Statistics Office in JapanThe average expenditures of the living families in Japan reached 352,633 yen ($ 2,332) in December, an increase of 7 % by nominal conditions in the previous year.
The average monthly income for each family reached 1,179259 yen, an increase of 7.2 % with nominal conditions and an increase of 2.9 % in real conditions on an annual basis.
Data comes yet BOJ raised the standard policy rate to 0.5 %The highest levels since 2008. BOJ has long stated that it will raise rates if it sees a “virtuous cycle” of the highest prices and increasing wages.
On Thursday, Boj Naoki Tamura said it is “necessary” that BOJ raise interest rates in the short term to “At least 1 % “by the second half of the fiscal year 2025. The fiscal year in Japan ends 2025 on March 31, 2026.
Discussions in the next spring will focus in Japan, also known as “Shunto” negotiations, for investors who watch BOJ interest rate movements. Negotiations will start some time in February, and Great companies He will respond about mid -March.
The head of the Japanese Syndicate Union, or Ringo, said in January that the annual wage increases for Japanese workers in 2025 should be higher than 5.1 % growth last year because real wages continue to decline, Reuters mentioned.
Data from the country Ministry of Labor It revealed that the real wages have decreased over the past three years, with real wages decreased by 0.2 % on an annual basis in 2024.
According to the President of the Rengo Tomoko Yoshino, the Labor Organization is officially seeking to increase wages by at least 5 % in the “Shunto” wage negotiations for this year.
To ensure that the income of workers in smaller companies does not fail to those in the largest companies, Yoshino said that there should be a rise of at least 6 % for the previous.
Lee Ying Chan of CNBC contributed to this report.
This is the urgent news, please check again for updates.
