After about half a year, although the recovery in the world economy – the first stage of the path – has lagged somewhat behind and household spending – the fourth stage – has turned out to be somewhat stronger than expected, it can be judged that the path is generally on track to achieve the 2 percent price stability target.
In particular, the recovery in private consumption, as well as in the nonmanufacturing sector, affects a wide range of economic activity, and therefore may support upward pressure on a broad range of prices. B. Risks to the outlook for economic activity and prices  As I have described, Japan’s economy is likely to continue its moderate recovery.