TOKYO, Feb. 7 (Xinhua) -- The average monthly household spending in Japan fell 1.1 percent in inflation-adjusted real terms in 2024 as rising food prices weighed on consumption, official data showed Friday.
Monthly spending for households with two or more members for 2024 came in at 300,243 yen (about 1,967 U.S. dollars), according to the Ministry of Internal Affairs and Communications.
Food expenditures, which account for a significant portion of household spending, dropped 0.4 percent, marking the fifth consecutive year of decline. Poor weather conditions led to higher vegetable and fruit prices, reducing their consumption.
Spending on transportation and communications declined 4.1 percent due to the suspension of production and shipments by certain automakers facing quality fraud issues, as well as increased adoption of lower-cost mobile plans.
Utility expenses also fell 6.8 percent due to the mild winter reducing heating costs.
For December 2024, monthly household spending rose 2.7 percent to 352,633 yen, the first increase in five months, driven by higher automobile purchases.
The three-month moving average also turned positive at 0.5 percent, suggesting that while frugality in food spending persists, household consumption is showing signs of recovery, according to the ministry. ■
