Japan household spending falls 3.1% in August
Japanese household spending in August declined 3.1% from a year earlier in inflation-adjusted real terms, down for the ninth consecutive month, the internal affairs ministry said Friday, JIJI Press reported.
The average spending by households with two or more members fell to 310,975 yen partly due to weather factors, including relatively lower temperatures and typhoons, which led to reduced electricity consumption for air conditioning.
Spending to buy air conditioners dropped 23.2%, and electricity bills decreased 7.8%. Spending on Western clothing was also weak, slipping 6.8%.
Expenditures on food sank 1.4%, with lower purchases of tea and sports drinks contributing to the decline. With consumer inflation continuing to dampen consumer spending, food expenses fell 1.4%, marking the third straight drop.
Meanwhile, automobile-related expenses rose 1.6% as the proportion of households buying new cars increased, pushing up the average expenditure per purchasing household.
Earlier, Kazakhstan's Finance Minister Madi Takiyev said that the social sector will become one of the main expenditure items of the national budget in 2027. According to him, the draft new budget will allocate nearly 34.9% of all expenses, or 10.5 trillion tenge, for social commitments.