BIS central bankers’ speeches  5  estimated by the BOJ turned positively to 0.1 percent in the January–March quarter of 2015. After a temporary deterioration projected for the April–June quarter, the output gap is expected to gradually improve in positive territory from the July–September quarter this year and increase its upward pressure on prices.
The change in the core CPI (all items less fresh food) is currently about 0 percent. However, the CPI excluding food and energy is about 0.6 percent, which exceeds the core CPI. The proportion of items whose prices have risen among all core CPI-composing items has increased to around 65 percent (Chart 5). Moreover, some price hikes have accompanied increased sales.