Japan's real wages rose 1.6% in June from a year earlier, marking the sixth consecutive month of increase, according to preliminary data from the Ministry of Health, Labour and Welfare's monthly labour survey released on the 5th, covering establishments with five or more employees. Nominal wages, as measured by total cash earnings, grew 3.4% to 531,677 yen, with scheduled earnings up 3.4% and special payments rising 3.5%. The consumer price index used to calculate real wages, which excludes imputed rent for owner-occupied housing, rose 1.9%, up from 1.7% the previous month but well below the 3.8% recorded in June last year. Alongside pay increases driven by wage hikes, the slowdown in inflation helped lift real wages.
