TOKYO, May 9 (Xinhua) -- Japan's household spending in fiscal 2024 fell 0.1 percent year-on-year in inflation-adjusted real terms, marking the second consecutive yearly decline, as consumers reduced food expenditure amid rising prices, government data showed Friday.
Households of two or more people spent an average of 304,178 yen (about 2,100 U.S. dollars) per month in the fiscal year ended March, according to the Ministry of Internal Affairs and Communications.
The decline came as real wages in March dropped 2.1 percent from a year earlier -- the third consecutive monthly decline -- with income growth falling behind price hikes, separate labor ministry data showed.
By category, food outlays, which account for nearly 30 percent of household spending, fell 1.0 percent from the previous year, after prices increased for a wide range of items including vegetables, meat and dairy products.
Spending on transportation and communication dropped 2.6 percent, with consumers spending less on vehicle purchases after several automakers halted shipments following a certification scandal, the ministry said.
However, in March alone, household spending rose 2.1 percent from a year earlier in real terms to 339,232 yen (about 2,334 dollars), marking the first increase in two months. ■
