Japan wages increase less than projected

Source: Bloomberg
© Scanpix/Reuters
Japan's wage growth decelerated in June, underlining the risk to consumer expenditure as inflation compresses household budgets in the country's economy. Average total monthly earnings grew 0.4% from last year as compared to a 0.6% gain in May, whereas the wages jumped 0.3% excluding bonuses and overtime. Japan's Prime Minister Shinzo Abe says wages have to grow quicker than inflation to boost the economic recovery.
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