The year-on-year rate of change in the consumer price index (CPI) for all items less fresh food has decelerated and become slightly negative, mainly due to the impact of COVID-19, the past decline in crude oil prices, and a decrease in hotel charges that reflects a discount through the "Go To Travel" campaign.
However, the rate of change in the CPI for all items less fresh food and energy, excluding the effects of temporary factors of the consumption tax hikes, policies concerning the provision of free education, and the "Go To Travel" campaign, has been slightly positive recently.