In real terms, the average monthly income per household is up 1.8% and average consumption expenditures per household are up .9% from the previous year. However, one area that elicits concern is the decrease in housing consumption by 8.5% in real terms. Is this just a slowing down effect from the aftermath of The Great East Earthquake reconstruction, or does this signal trouble for recovery? Accordingly, housing prices in both Tokyo and Osaka have fallen this past year.
The second largest drop in consumption was Education, which fell by 5.4% in real terms from the previous year. This may be more attributed to the aging population.