Affected by rising wages and government subsidies to ease the cost of living, retail sales in Japan increased for the third month in a row in May. According to data released by Japan's Ministry of Economy, Trade and Industry on Monday, retail sales increased 1.9% month-on-month in May, and the April data also showed strong growth after being revised. This figure surpassed all expectations from Bloomberg's survey of economists. Compared with the same period last year, retail sales increased by 5.3%, higher than the 3% increase generally expected by the market. The above figures are not adjusted for inflation.

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