TOKYO - Household spending in Japan fell for an eighth consecutive month in July as consumers continued to economize on everyday purchases such as food and beverages while increasing spending on dining out, accommodation and in-game purchases.
Households with two or more people spent an average of 301,245 yen in July, according to the Family Income and Expenditure Survey released by the Ministry of Internal Affairs and Communications.
After adjusting for price changes, spending fell 3.6% from the same month a year earlier, extending the run of year-on-year declines to eight months.
Spending on prepared foods, including ready-made dishes, dropped 3.2%. The ministry said consumers remained focused on saving money, with some switching to cheaper products or reducing purchases altogether.
Spending on beverages fell 6.7%, partly because temperatures were lower than a year earlier and because price increases discouraged purchases.
By contrast, spending increased in areas including accommodation, dining out and in-game purchases.
The ministry said households appear to be spending selectively, allocating more money to certain activities while keeping overall expenditure restrained.
Source: TBS
