Japan household spending unexpectedly falls, clouds BoJ rate path

By Reuters

Jul 06, 2024 12:05 am

TOKYO ― Japanese household spending unexpectedly fell in May as higher prices continued to squeeze consumers' purchasing power, data showed on Friday, complicating the central bank's decision on how soon to raise interest rates.

Many analysts expect consumption to rebound in coming months as big wage hikes offered by companies and a tax break aimed at cushioning the blow from rising living costs reach households.

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