AI Data Insight
Japan's nominal household consumption reached 345,310.3 billion yen in the first quarter of 2026, steadily growing from 343,801.9 billion yen in the previous quarter and hitting another record high. Driven by the dual tailwinds of the "Shunto" (spring wage offensive) wage hikes and the government's price countermeasures, private consumption and strong exports jointly supported the expansion of GDP. However, the potential energy inflation risk brought by the Middle East situation remains a hidden concern affecting real spending power in the future.