Japan's inflation-adjusted real wages rose 1.9% YoY in the latest report,
marking a fourth consecutive monthly increase and the longest streak in four
years, the Ministry of Health, Labor and Welfare said on Friday. The print
exceeded economists' 1.7% forecast and accelerated from a revised 1.4% the prior
month. Nominal wages climbed 3.5% YoY (consensus 3.1%); base wages rose 3.4%. A
Bank of Japan–watched, lower-sampling-bias gauge for full-time workers increased
2.6%. The readings point to continued underlying wage momentum and strengthened
the Bank of Japan's case for a rate hike.
