Other indicators that capture the underlying trend in consumer prices have exhibited the following developments. The trimmed mean of the year-on-year rate of change in the CPI -calculated by excluding items belonging to the upper and lower 10 percent of the price change distribution -- has increased to the range of 1.5-2.0 percent due to price rises in a wide range of food products.
With regard to the second channel, there is concern that a rise in prices, mainly for essential goods such as energy and food, may affect lower-income households in particular, as they are more susceptible to a decline in purchasing power. Chart 8 shows developments in the terms of trade.