The slope of the Phillips curve based on the CPI (for all items less fresh food) appears to have steepened sharply together with a rise in the intercept since October–December 2012.
Among these changes related to the curve, the steepening of the slope indicates that prices are more prone to rise than before in response to a similar degree of change in the output gap (I will explain about the intercept later). This occurs when firms find it easier to raise their sales prices or pass their input costs on to their sales prices.