Japan inflation: 70% of residents report wages lagging behind rising costs

A survey by Sumitomo Life indicates that over 70% of people in Japan feel their income is not keeping pace with rising prices. Approximately 80% of respondents reported that inflation is affecting their household finances.

On average, monthly expenses have increased by nearly ¥10,000. To offset these costs, respondents estimated they would need an average annual income increase of ¥378,011. Food has become the primary area for cost-cutting, with 58.7% of those surveyed reducing their food expenditures. More than 40% of respondents expressed concern that the impact of rising prices on daily life is unlikely to diminish.