Japan's real wages rose 1.4% in May from a year earlier, marking the fifth consecutive month of increase, according to preliminary data from the Ministry of Health, Labour and Welfare's monthly labour survey released on the 7th, covering establishments with five or more employees. In addition to growth in nominal wages, the result was driven by a sharp slowdown in the consumer price index used to calculate real wages, which excludes imputed rent for owner-occupied housing. The index's year-on-year increase fell to 1.7% from 4.0% in May last year, reflecting the abolition of a provisional gasoline tax rate and a decline in rice prices.