Nomura employees see canteen prices rise faster than their salaries

In the canteen at Nomura's Tokyo headquarters, prices are rising faster than the wages the brokerage pays its staff.

Bloomberg News reports that a regular coffee now costs $1.53, a 19% increase from March, said an employee who asked not to be named because he’s not authorized to talk to the media.

A latte has risen 14% to $1.94, another worker said. The average salary including bonuses at Nomura’s brokerage in Japan climbed 6.7% in the year ended March.

With pay more than three times the national average, employees at the nation’s largest securities firm are better equipped than most to shell out more for their espressos. Yet the situation at Nomura, one of the cheerleaders of Prime Minister Shinzo Abe’s plans to spur inflation, reflects a broader reality of the premier’s efforts: the need to hand over more at the till while waiting for wages to catch up.

To access the complete Bloomberg News article hit the link below:

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