Japan’s August Household Spending Up 2.3%

TOKYO, Oct 07 (News On Japan) - Household spending in Japan rose 2.3% in August from a year earlier, marking the fourth consecutive month of increase, according to data released by the Ministry of Internal Affairs and Communications.

The survey showed that two-or-more-person households spent an average of 313,977 yen in August. In real terms, adjusted for inflation, this represented a 2.3% rise compared with August last year, continuing a four-month streak of positive growth.

The main driver was a sharp 22.4% jump in automobile-related expenses, including car purchases. Spending on cultural and recreational services also climbed 13%, reflecting trips to events such as the Osaka-Kansai Expo.

On the other hand, food spending fell 1.2%. In particular, rice purchases plunged 28.9% compared with a year earlier. The ministry attributed this decline partly to a rebound effect from August last year, when the issuance of a Nankai Trough Earthquake advisory triggered stockpiling, as well as increased sales of cheaper reserve rice varieties.

Source: TBS

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