Japan’s Wage Growth Slows, Underscoring Challenge for Takaichi

Here is a summary of the news article in 177 words: Japan's wage growth slowed in the latest month, with real pay continuing to decline. This underscores the challenge faced by newly elected ruling party leader Sanae Takaichi, who has promised to address the rising cost of living. The data shows that wages in Japan rose at the slowest pace in three months, indicating that the country's economic recovery remains fragile. Real wages, which take inflation into account, extended their falling streak, putting pressure on consumers' purchasing power. Takaichi, who was recently elected as the leader of the ruling Liberal Democratic Party, has made addressing the increase in living costs a key priority. However, the latest wage data suggests that achieving this goal may be more difficult than expected, as the country continues to grapple with the economic impact of the COVID-19 pandemic. The report highlights the complexities involved in reviving Japan's economy and improving the financial well-being of its citizens, which will be a crucial task for Takaichi and the government.