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Japan's household spending down 6.3 pct in January

TOKYO
2024-03-08 11:54

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TOKYO, March 8 (Xinhua) -- Japan's household spending in January fell 6.3 percent from a year earlier, down for the 11th consecutive month while expanding from the 2.5-percent drop in December, government data showed on Friday.

Households of two or more people spent an average of 289,467 yen (about 1,957 U.S. dollars), logging the biggest fall since a 6.5 percent decline registered in February 2021, the Ministry of Internal Affairs and Communications said.

By category, food expenditure, accounting for around one-third of household spending, fell 2.7 percent, declining for the 16th straight month, as people spent less on vegetables, seaweed and cooked food amid rising prices, the data showed.

Expenditures on transportation and communication dropped 13.1 percent overall and 30.4 percent on autos, while outlays on electricity and other utilities were down 9.4 percent due to unseasonably warm weather.

Meanwhile, spending on education jumped 29.6 percent, due to increased fees for admission examinations for private junior high schools and high schools.

Accounting for more than half of Japan's gross domestic product (GDP), household spending is a key gauge of private consumption in the country.
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