穆迪分析：受关税影响，日本工资增速料放缓

Core Insights - Moody's analysis indicates that Japan's wage growth is expected to slow down due to the impact of increased tariffs on production and shipping [1] - In April, Japan's inflation-adjusted wages fell by 1.8% compared to the previous year, highlighting the ongoing challenges faced by households [1] - Persistent inflation is putting pressure on consumer spending and creating policy challenges ahead of the upcoming upper house elections in July [1] Economic Impact - The increase in tariffs is anticipated to hinder wage growth in Japan, leading to a more difficult economic situation in the coming months [1] - The decline in real wages, as evidenced by the 1.8% drop, suggests that households are experiencing reduced purchasing power [1] - The combination of stagnant wage growth and ongoing inflation is likely to complicate economic conditions further [1]