Japan's inflation-adjusted wages slip in September for 18th month

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Murphy's Logic and reflections on 45+ years of broadcasting | SaltWireTOKYO - Japan's real wages slipped in September for an 18th month, government data showed on Tuesday, with rising prices squeezing consumers' purchasing power, and likely to add to pressure from labour groups for higher wage increases.

Inflation-adjusted real wages, a barometer of consumer purchasing power, dropped in September by 2.4% from a year earlier after a revised 2.8% fall the month before, data from the Ministry of Health, Labour and Welfare showed. Still, nominal pay growth in September was 1.2%, after a downward revision of 0.8% in August and only slightly better than in July.

Prime Minister Fumio Kishida's government last week drew up a 17 trillion yen economic stimulus package that includes slashing annual income tax and other taxes by 40,000 yen per person and paying 70,000 yen to low-income households.

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