Tokyo, Oct. 7 (Jiji Press)–Japan’s inflation-adjusted real wage index rose 1.5 pct in August from a year before, up for the eighth consecutive month, labor ministry data showed Wednesday. The rise came as inflation slowed from a year earlier, with salary growth continuing to outpace price increases. Pay hikes secured in this year’s “shunto” spring wage negotiations also contributed to the latest rise. Nominal wages per worker, including basic salary and overtime, grew 3.8 pct to 311,364 yen, according to the preliminary data covering businesses with five or more employees. Regular pay, mainly comprising base salary, grew 3.8 pct to 277,861 yen, posting a growth rate of over 3 pct for the eighth straight month. The consumer price index, excluding imputed rent, which is used to calculate the real wage index, was up 2.2 pct, against a 3.1 pct rise a year before. Nominal wages for full-time workers, such as regular employees, gained 3.7 pct to 399,849 yen on average, and those for part-time workers climbed 4.1 pct to 115,905 yen. END [Copyright The Jiji Press, Ltd.]
