Japan's household spending rises significantly, the highest since 2022, due to increasing wages.

Japanese household consumption rose 2.7% in December 2024, driven by wage gains, but sustainability is uncertain amid high inflation.

So check this out: Japanese household consumption just skyrocketed, rising at the fastest pace since August 2022! Thanks to strong wage gains and bonuses, people are finally opening up their wallets. In December, they spent 2.7% more than last year, which is way better than expected. We’re talking about a solid jump, with nominal spending up 7%, and housing costs soaring by a whopping 15.8%!

But here’s the kicker: while it's all looking good now, people are wondering if this spending spree will stick around. Wage growth right now is heavily influenced by temporary bonuses, and with inflation high, especially for essentials like rice, we gotta see if folks can keep this up. Consumer spending is crucial since it makes up over half the economy!

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