Japan's real wages rose for the eighth straight month, marking the longest run of gains in nearly a decade. According to Sina Finance, Japan's Ministry of Health, Labour and Welfare said real cash earnings in August rose 1.5% from a year earlier, matching economists' expectations, while base pay increased 3.8% and nominal wages also rose 3.8% for a seventh straight month above 3%.

According to Sina Finance, the ministry's stable measure excluding bonuses, overtime pay, and sampling bias showed full-time employee pay rose 2.8%. Japan's overall CPI rose 1.9% in August, supported by utility subsidies introduced by Sanae Takaichi, who said in her policy speech at the opening of the new parliamentary session that price relief measures helped Japan post the lowest inflation rate in the Group of Seven and pushed Japan's real wage growth to lead advanced economies.

According to Sina Finance, Japan plans to cut the food consumption tax from 8% to 1% for two years starting next April, and the proposal is a key topic in the current extraordinary Diet session.