FX.co ★ Japan’s consumer spending decline in December

In December, Japan’s consumer spending decreased by 0.1% year-on-year. Analysts had expected a 1.3% increase.

The unemployment rate rose to 2.8%, but remained near the lowest level since early 1990s. Economists had predicted the jobless rate at 2.7%.

Retail sales in Japan increased by 0.9% from the previous month, up from the expected decrease of 0.4%.

On a yearly basis, sales jumped by 3.6% in December. Analysts had forecast an increase of 2.2%.

Japan’s headline inflation remained unchanged in December, which underlines the difficulties for the Bank of Japan, which seeks to accelerate it to 2%.

The headline inflation rate in Japan in December came in at 1%, while economists had predicted inflation at 1.1%. In November, consumer prices rose by 0.6%.