Japan’s Household Spending Falls as Rising Costs Squeeze Consumers

Japan’s Household Spending Falls as Rising Costs Squeeze Consumers
A man looks at a shop at the Ameyoko shopping district in Tokyo, Japan, on May 20, 2022. Kim Kyung-Hoon/Reuters
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TOKYO—Japan’s household spending fell faster than expected in April as the yen’s sharp decline and surging commodity prices pushed up retail costs, hitting consumer confidence and heightening pressures on the battered economy.

Spending improved from the previous month as households showed increasing appetite for services such as eating out, but the month-on-month rise was smaller than expected, suggesting the drag from the pandemic remained.