In a less promising development, real wages declined after advancing for the past two months, while a separate report showed that household spending fell.
Base salaries for regular workers in Japan grew at a record pace, providing a tailwind for Prime Minister Shigeru Ishiba as he prepares to lead his party in a general election later this month.
Base pay for full-time workers rose by a record 2.9% in August from a year ago, accelerating from a 2.6% pace in July, the labour ministry reported Tuesday. Growth in nominal cash earnings for all workers slowed to 3%, a tad stronger than the consensus estimate.
