The direct effects of policies concerning the provision of free education on the CPI for fiscal 2019 and fiscal 2020 are estimated to be minus 0.3 percentage point and minus 0.4 percentage point, respectively. Sources: Ministry of Internal Affairs and Communications; Bank of Japan. 9  Chart 10  II.
According to the provisional estimate by Eurostat for the Harmonised Index of Consumer Prices, the price level in the euro area was 2.0% higher in April year on year compared with 1.7% in March. This is consistent with the ECB’s target of keeping price inflation to less than but close to 2% in the medium term.