COLA drops in Japan as dollar rebounds

[unhappycamper]

COLA drops in Japan as dollar rebounds
Stars and Stripes
Pacific edition, Wednesday, January 6, 2010

The new year brought smaller paychecks for servicemembers stationed in Japan as cost-of-living payments dipped four to six points at military bases across the mainland and Okinawa, according to figures released Friday.

The change means less padding in servicemembers’ next paycheck because the dollar regained some buying power in recent weeks against Japan’s yen.

For example, a first class petty officer in Yokosuka with two dependents will receive $1,208 in allowance for January, which is $44 less than in December, according to the DOD.

The DOD allowances are meant to offset the cost of living overseas and fluctuate biweekly depending on conversion rates and the costs of goods and services. For more information and to calculate rates, go to www.defensetravel.dod.mil/perdiem/allowcol.html.


Article at: http://www.stripes.com/article.asp?section=104&article=67025