Recent Price Developments and Their Background Next, I will turn to price developments. The year-on-year rate of increase in Japan's consumer price index (CPI) for all items less fresh food has continued to rise moderately within the range of 0.0-0.5 percent (Chart 9).
Regarding fiscal policies, the mildly expansionary euro area fiscal stance today and the operation of automatic stabilisers are already providing support to economic activity. If the slowdown is judged more stubborn, any further fiscal easing should be undertaken within the limits of debt sustainability and be differentiated according to fiscal space available.