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Japan Household Spending Logs 1st Drop in 3 Years in 2023

Japan Household Spending Logs 1st Drop in 3 Years in 2023

   Tokyo, Feb. 6 (Jiji Press)--Average monthly household spending in Japan in 2023 fell 2.6 pct from the previous year in inflation-adjusted terms, the first drop in three years, as consumers curbed expenditures on food and education amid rising prices, government data showed Tuesday.
   Monthly consumption spending by households with two or more members averaged 293,997 yen, the internal affairs ministry said.
   Expenditures on food fell 2.2 pct as spending on eating at home declined due to higher prices for seafood and other food items.
   Spending on education plunged 9.8 pct amid rising prices and a shift to online programs.
   In December alone, average household spending fell 2.5 pct from a year before to 329,518 yen, down for 10 months in a row. High temperatures led to lower spending on kerosene and gas and reduced purchases of heating appliances and winter clothing.

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AFP-JIJI PRESS NEWS JOURNAL


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