According to data released by the Japanese government on Friday, household consumption unexpectedly fell year-on-year in June, showing a decline for the seventh consecutive month. According to data from Japan's Ministry of Internal Affairs and Communications, household consumption expenditure fell 3.3% year on year, and the median market expected an increase of 1%. After seasonal adjustments, household consumption fell 6.4% month-on-month, while the market estimated a decline of 3.1%. This indicator will be an important reference basis for the Bank of Japan to consider whether to raise interest rates as early as September. According to data released by Japan's Ministry of Health, Labor, and Welfare this week, actual wages increased 1.6% year on year in June, achieving the sixth consecutive month of increase.

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