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Japan Household Spending Drops for 2 Years in Row in 2024

Japan Household Spending Drops for 2 Years in Row in 2024

   Tokyo, Feb. 7 (Jiji Press)--Average monthly household spending in Japan in 2024 fell 1.1 pct from the previous year in inflation-adjusted real terms, declining for the second consecutive year, government data showed Friday.
   The drop was affected by rising prices, which led consumers to become budget-conscious in spending on food, energy and water.
   Monthly consumption spending by households with two or more members averaged 300,243 yen, the internal affairs ministry said.
   Spending on food decreased 0.4 pct, down for the fifth straight year. Consumption of a wide range of food items fell as a result of surging prices. Purchases of vegetables and seaweed fell 4.2 pct, while those of fruit dropped 6.9 pct.
   Meanwhile, expenditures on rice climbed 4.4 pct as rice prices surged in August last year following shortages and other factors, and demand later rose sharply.

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AFP-JIJI PRESS NEWS JOURNAL


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