Regarding prices, the year-on-year rate of change in the consumer price index (CPI; all items less fresh food) has recently been around 0 percent or slightly negative.
The outlook for prices as measured by the year-on-year rate of change in the CPI – excluding the direct effects of the consumption tax hikes – is expected to follow a rising trend; as such, it will reflect factors such as the improvement in the output gap (the difference between actual and potential GDP) as well as the rise in medium- to long-term inflation expectations.