“Inflation turned out to be increased than projected primarily as a result of rising rice costs and stronger downward stress on the yen,” mentioned Saisuke Sakai, chief economist at Mizuho Research & Technologies.
Inflation-adjusted pay together with bonuses fell 0.2% in 2024. The nominal improve was 2.9%, whereas consumer-price inflation for the 12 months got here in at 3.2%. Real wages fell 2.5% in 2023 and 1.0% in 2022. In 2021, they rose 0.6%.