AI Data Insight
Japan's household real housing expenditure YoY growth narrowed to 0.7% in May 2026, significantly pulling back from 7.6% in the previous month. Although real wages achieved positive growth for five consecutive months, overall household consumption expenditure still showed a YoY decline of 0.4%, reflecting that the public's consumption attitude remains conservative under inflationary pressure. The market expects that if the wage growth momentum continues, it is expected to gradually translate into real purchasing power in the medium term.