TOKYO (Reuters) – Japanese workers’ inflation-adjusted real wages rose in June at the fastest pace in more than 21 years, fueled by an increase in summer bonuses, government data showed, in an encouraging sign that consumer spending and inflation will pick up.
The 2.8 percent rise in real wages in June from a year earlier was the biggest gain since a 6.2 percent annual increase in January 1997, and followed a 1.3 percent annual increase in May, labor ministry data showed on Tuesday.
Data - Bank - Japan - Inflation - Percent
The data should be encouraging to the Bank of Japan as it struggles to accelerate inflation to its 2 percent target despite more than five years of massive monetary stimulus.
Nominal cash earnings rose 3.6 percent year-on-year in June, faster than a 2.1 percent annual increase in May.
Regular pay, which accounts...
Wake Up To Breaking News!