On the price front, COVID-19 has affected not only energy but also such items as the following: (1) travel-related services such as charges for hotels and for overseas package tours; (2) water charges, which declined due to reductions and exemptions by local governments for those who have difficulty paying them; and (3) tutorial fees, which declined reflecting the introduction of online classes.
Meanwhile, moves to reduce prices to stimulate demand seen during the deflationary period in the past are not widely observed at this point. In financial markets, tension has abated compared with the period from late February through March 2020, when the markets were extremely unstable.