%
growth in cost of living from 2021 to 2023
%
increase in consumer prices from 2021 to 2023
43% of Japanese consumers are concerned about their current financial situation.
And nearly 2 in 3 took measures like cooking at home or limiting non-essential spend, among others, to save money in the past 12 months.
Source: Euromonitor International Voice of the Consumer Survey, fielded January to February 2023 (n=1,011; n=944)
4%
food price index growth from 2021 to 2023
3%
housing price index growth from 2021 to 2023
Food and housing prices record moderate growth over the past two years.
Note: Food price index includes non-alcoholic beverages.
Essential Spending by Income Decile
Decile 10 spends slightly more than double on essentials than decile 1—a smaller disparity compared to other major economies. Housing is the highest expense for all three income levels.
Note: Spend per household in USD. Clothing expenditure includes footwear. Food expenditure includes non-alcoholic beverages.
DECILE 1
$
projected spend on clothing, food and housing per household in 2023
0%
of total expenditure
DECILE 5
$
projected spend on clothing, food and housing per household in 2023
0%
of total expenditure
DECILE 10
$
projected spend on clothing, food and housing per household in 2023
0%
of total expenditure
Essential Spending in the Biggest Cities
Clothing, food and housing will account for 41% to 45% of total household expenditure in the biggest cities in Japan this year.
Note: Based on share of total household expenditure on essentials in 2023. Clothing expenditure includes footwear. Food expenditure includes non-alcoholic beverages.
Which city dwellers will be the most impacted?
