Japanese household spending up 7.2 percent in March

(MENAFN) The Japanese government said that the country's household spending on average increased by 7.2 percent in March on yearly basis, hitting USD3,372.8 dollars, its fastest pace in 39 years, Xinhua reported. Japan's consumption tax was raised from 5 percent to 8 percent on April, which led to last-minute shopping in March by many consumers in Japan. As a result, the data rose sharply. In contrast, a report by the Ministry of Internal Affairs and Communications said that the average monthly income of household salaries decreased by 3.3 percent in real terms, reaching USD4,277.9 dollars.