It should be noted that, statistically, the year-on-year rate of change in the CPI will decline for a year due to the introduction of subsidies for high school tuition and other policy measures in fiscal 2010, but in assessing the trend change in prices, it is necessary to exclude such one-off factors.
In terms of the trend change in prices, with medium- to long-term inflation expectations likely to be stable, the year-on-year rate of  BIS Review 52/2010  1  decline in the CPI (excluding fresh food) is expected to continue to moderate as the aggregate supply and demand balance improves gradually.