Japan’s household spending logs first drop in 3 years

TOKYO  -  Japan’s average household spending in 2023 dropped a real 2.6 percent from the previous year, marking the first de­cline in three years as families curbed expenditures on food and education amid rising prices, government data showed Tuesday. Households of two or more people spent a monthly aver­age of 293,997 yen (2,000 U.S. dollars) last year, the Ministry of Internal Af­fairs and Communications said.

By items, spending on food, which accounts for about 30 percent of household expenditures, fell 2.2 per­cent, while spending on household goods was down 7.4 percent. Expen­ditures on education plunged 9.8 per­cent, as households switched children from cram schools to comparatively affordable online courses, a ministry official said. Meanwhile, outlays on entertainment expanded 3.4 percent, as more people went out following the removal of coronavirus restrictions.

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