On the other hand, the consumer price index(excluding fresh food, on a nationwide basis) continued to fall at a pace of a little less than 1 percent from the previous year.
This is because the CPI is an index in line with the public's actual sentiment that covers goods and services that households consume, and is a quickly available statistic that is published monthly.
Consumer prices(excluding fresh food) had been declining slightly on a year-on-year basis. The year-on-year rate of decline in consumer prices(on a nationwide basis) was 0.2 percent in August as in July.
With regard to price developments, members discussed the fact that the year-on-year change in the consumer price index(CPI; excluding fresh food) had become positive in October for the first time in five and a half years.
The Bank set the"price stability target" at 2 percent in terms of the year-on-year rate of change in the CPI in January 2013, and has made a commitment to achieving this target at the earliest possible time.
Consumer prices, in terms of"general, excluding fresh food, petroleum products and other specific components"(referred to as"core core"), are declining at a slower tempo recently….
The Consumer Price Index for the 2015 fiscal year is forecast at 2.5%(1.8% excluding the influence of the consumption tax rate increase), and it is expected that the 2% inflation target will be nearly achieved in approximately 2 years.
On this basis, the year-on-year rate of increase in the CPI including energy is projected to reach around 2 percent around the second half of fiscal 2016, taking into account such developments as those in crude oil futures prices.
Consumer prices The consumer price index(CPI), excluding fresh food, on a nationwide basis, has been declining slightly on a year-on-year basis due in part to special factors such as a reduction in telephone charges.
Bearing these factors in mind, it will likely take a long period before various price indexes, especially the CPI, turn positive on a year-on-year basis.
The year-on-year rate of increase in the consumer price index(CPI; excluding fresh food) also rose, reaching 1.9 percent in June against the background of the increase in prices of petroleum products and food.
Consumer prices(excluding fresh food) had been declining slightly on a year-on-year basis, partly due to the reduction in electricity and telephone charges, and were projected to continue falling slightly on a year-on-year basis for the time being.
To that end, the Bank is strongly and clearly committed to achieving the price stability target of 2 percent CPI inflation rate at the earliest possible time, with a time horizon of about two years.
消費者物価指数(全国、除く生鮮食品)は、概ね前回の見通しに沿って、プラス基調で推移している。
The movement of the consumer price index(CPI; excluding fresh food, on a nationwide basis) has been generally in line with the April projection: year-on-year changes have been on a positive trend.
On the price front, the year-on-year rate of increase in the CPI excluding fresh food has been widening across an increasing number of items, having registered 1.3 percent in December 2013.
The Abe administration estimates the potential growth rate at 2% and sets the consumer price increase rate at 2%; therefore, the GDP deflator will be about 1% and the nominal GDP growth rate 3.
During the same period, the year-on-year rate of change in the CPI including energy has declined, which can be attributed mainly to an increase in the negative contribution of energy items.
Consumer prices(excluding fresh food, on a nationwide basis) have been declining slightly on a year-on-year basis partly due to the reduction in electricity and telephone charges against the background of such factors as deregulation.
At the same time, the Bank introduced the forward guidance that it would continue the policy until the annual rate of change in the consumer price index(CPI, excluding fresh food) registered zero percent or above in a stable manner.
Looking at historical developments, there has been a stable relationship observed between the CPI and hourly nominal wages in Japan, where their rates of increase move almost in parallel.
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