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Japan's household spending falls 0.5% on year in February
MAINICHI
| Kemarin, 10:38
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TOKYO (Kyodo) -- Japan's household spending in February fell a real 0.5 percent from a year earlier, marking the first decline in three months, as consumers continued to cut back on food expenditure amid surging prices, government data showed Friday.
Households of two or more people spent an average of 290,511 yen ($2,000) in the reporting month, the Ministry of Internal Affairs and Communications said.
Excluding the impact of the additional day in 2024 due to the leap year, spending rose 1.8 percent on year, according to the ministry's estimate.
By category, expenditures on food dropped 4.5 percent, falling for the fifth consecutive month, as people spent less on fresh items, including broccoli and tomatoes, amid inflation.
Health care and medicine outlays tumbled 7.1 percent, down for the first time in four months, as a decline in flu cases reduced health service expenditures.
Spending on clothing and footwear plunged 12.5 percent, declining for the second straight month, as cold weather dampened demand for spring items.
Meanwhile, expenditures on utilities climbed 7.6 percent, as the cold weather led to increased use of air conditioners.
Household spending is a key indicator of private consumption, which accounts for more than half of the country's gross domestic product.
The average monthly income of salaried households with at least two people decreased a real, or inflation-adjusted, 2.3 percent to 571,993 yen in February, down for the second consecutive month, the ministry said.
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