• Reuters, Bloomberg

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Japan’s household spending fell in March for the first time in three months, though the 2.3% drop was smaller than expected, as consumers remained cautious despite some easing of COVID-19 curbs.

While lower coronavirus risks have boosted consumer activity since April, rising living costs may cramp Japan’s consumption-led recovery for the rest of 2022, analysts say. Inflation is at a multiyear-high in the world’s third-biggest economy, fanned by the war in Ukraine and the yen’s skid to 20-year lows.

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