XINHUA – Japan’s average monthly wages in inflation-adjusted terms fell 0.6 per cent year on year in August as price increases outpaced nominal earnings growth, official data showed yesterday.
Inflation-adjusted real wages, a barometer of consumer purchasing power, had turned positive in June for the first time in 27 months and continued to grow in July, but fell back into negative territory in August, according to data from the Ministry of Health, Labour and Welfare.
Nominal monthly earnings, including base pay and overtime, rose three per cent year on year to reach JPY296,588 (about USD2,008.5) per person, marking the 32nd consecutive month of positive growth.
Regular pay including basic salary went up three per cent to JPY264,038, the biggest rise in nearly 32 years. Overtime and other allowances were up 2.6 per cent to JPY19,599, the data showed.
