Japan's Ministry of Internal Affairs and Communications released its inflation data on late Monday evening. Household spending in Japan fell 0.4% year-on-year in April, beating expectations of a 1.4% decline, after a 5.3% drop in March.
The drop was mainly driven by decreases in spending on clothing and footwear, and housing.
Spending on clothing and footwear plunged 10.4% in real terms year-on-year in April, while spending on housing slid 11.5%.
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