Japan's Real Wages Rise for Sixth Straight Month Amid Inflation

Japan's real wages have risen for the sixth consecutive month in June, according to government data released on Wednesday. The growth of 1.6% from a year before aligns with May's revised figure and supports the case for more rate hikes by the Bank of Japan.

Nominal wages increased 3.4% to ¥531,677 ($3,373.6) per month in June, outpacing the revised 3.3% gain in May.

The central bank maintained interest rates at its July policy meeting, with Governor Kazuo Ueda mentioning upside risks to prices that could lead to another rate hike as soon as September.