My impression is that 3/5  BIS central bankers' speeches  consumers, in response, are tolerant of the prices set for products and services that are not necessarily inexpensive, as long as they are unique and have high value-added, like travel packages that offer a new life experience in return.
As for the outlook, it is projected that, with the output gap remaining positive, firms’ stance gradually will shift toward further raising wages and households’ tolerance of price rises will increase. In this situation, further price rises are likely to be observed widely and medium- to long-term inflation expectations are projected to rise gradually.