Japan data headlines - Japan's real wage posted its biggest fall in more than seven years

I posted the data with more or less that headline just a few minutes ago:

• Japan data - October real wages fall the hardest since June of 2015

The data has caught the, very rapid, attention of media. In perhaps the quickest recap I've seen:

• Japan's real wage posted its biggest fall in more than seven years in October on relentless consumer inflation Inflation Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Read this Term even though nominal pay grew for a tenth month, official data showed on Tuesday.

The piece goes on with more data, but doesn't draw implications for the BOJ as I did in that post linked above. That is, there is no pivot coming from the BOJ any time soon. Look elsewhere for a Christmas present.