日本5月实际薪资暴跌2.9%创20个月新低，通胀4%侵蚀购买力

Group 1 - Japan's economy is facing severe challenges, with real wages experiencing the largest decline in nearly two years as inflation remains high, severely impacting household purchasing power [1][3] - In May, real wages fell by 2.9% year-on-year, marking the largest drop in 20 months, and have now declined for five consecutive months, significantly affecting consumer confidence [3] - Nominal cash earnings increased by only 1.0% to 300,141 yen in May, which is the lowest growth since March 2024, primarily due to an 18.7% drop in special payments, which are largely composed of one-time bonuses [3] Group 2 - Consumer inflation rose by 4.0% year-on-year in May, outpacing the growth of nominal cash earnings, and continues to be a major obstacle to Japan's economic growth [4] - Rent in Tokyo has increased at the fastest rate in 30 years, with a 1.3% year-on-year rise from April to May, indicating that inflation is permeating the rental market [4] - The rising inflation rate may prompt the Bank of Japan to consider further interest rate hikes, as the real estate market has been identified as a key area for monitoring in their semi-annual financial system report [4]