Japan’s real wages fell 2.9 percent in March from a year earlier, declining for the 12th straight month, affected by rising inflation that led to households tightening their purse strings, government data showed Tuesday.

The drop in inflation-adjusted wages comes as higher food, energy and other prices impacted by Russia’s war in Ukraine have outpaced pay hikes. The government of Prime Minister Fumio Kishida has called on businesses to raise wages in line with inflation and help sustain the economy.

Source: https://www.nippon.com