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Given that consumer inflation, at 4.1 percent, outpace wage hikes, pay rises of 3 percent or more need to continue in the coming years to sustain price stability at 2 percent, said Hisashi Yamada, senior economist at Japan Research Institute.
Source: https://business.inquirer.net/391117/japans-big-firms-set-to-offer-biggest-pay-rises-in-decades