The Big Experiment in Japan: Will Defla6on End? Japan: Consumer Pr ice Index % Change - Year to Year
NSA, 2010=100
25
25
20
20
15
15
10
10
5
5
0
0
-5
-5 75 80 85 90 95 00 05 10 15 Sour ce: Ministr y of Inter nal Affair s and Communications /Haver Analytics
The Key Variable: Will Wages Increase? Japan: Aver age Monthly Ear nings {30 or mor e empl}: All Industr ies % Change - Year to Year
NSA, Yen
40
40
30
30
20
20
10
10
0
0
-10
-10
-20
-20 75 80 85 90 95 00 05 Sour ce: Ministr y of Health, Labour & Welfar e /Haver Analytics
10
15
Two Sides of the Same Coin: Wages & Prices Growing Together Japan: Consumer Pr ice Index
% Change - Year to Year
NSA, 2010=100
Japan: Aver age Monthly Ear nings {30 or mor e empl}: All Industr ies % Change - Year to Year
NSA, Yen
40
40
30
30
20
20
10
10
0
0
-10
-10
-20
-20 75 80 85 Sour ces: MIC, MHLW /Haver
90
95
00
05
10
15