Japan's real wages decline for the fourth consecutive fiscal year

This is the fourth consecutive fiscal year in which Japan’s real wages have declined. Data shows that the consumer price index used to calculate real wages rose by 3% year-on-year, marking a growth above 3% for four consecutive years. The main reasons are rising food prices such as rice and chocolate. Japanese media outlets and experts generally believe that, amid persistently high prices, wage growth is struggling to keep pace with inflation. Nikkei’s editorial board member Yukio Ishizuka stated that the situation in the Middle East remains the biggest variable affecting real wages.