Japan's Real Wages Rise for Seventh Straight Month

Japan's real wages have seen a significant increase in July, marking the seventh consecutive month of growth. According to the Ministry of Health, Labor and Welfare, average total cash earnings per worker rose 4.7% year-over-year, reaching 436,401 yen in July.

The ministry attributed the continued rise in real wages to increases in base salaries and other forms of pay, as well as a moderation in the pace of price increases.

Nominal wages have now risen by at least 3% for six consecutive months, the first such stretch in about 34 years. Real wages, which take changes in consumer prices into account, increased 2.4% year on year in July.