TOKYO (Reuters) -Japanese household spending in June rose 1.3% from a year earlier, internal affairs ministry data showed on Friday, short of the median market forecast for a 2.6% rise.
On a seasonally adjusted, month-on-month basis, spending decreased 5.2%, versus an estimated 3% fall.
Consumption and wage trends are among key factors the Bank of Japan is monitoring to determine the timing of the next rate hike.
Japan’s real wages fell in June for a sixth consecutive month as inflation continued to outpace pay growth, data released on Wednesday showed, raising concerns about consumption-led recovery in the world’s fourth-largest economy.
The government on Thursday cut its growth forecast for this fiscal year as U.S. tariffs slow capital expenditure and persistent inflation weighs on private consumption.
To view the data on the website of the Ministry of Internal Affairs and Communications, click here: http://www.stat.go.jp/english/data/kakei/index.html
(Reporting by Satoshi Sugiyama; Editing by Chang-Ran Kim and Himani Sarkar)
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