I, however, am of the opinion that the Bank should not readily change the 2 percent price stability target, because this target was set after giving due consideration to domestic and overseas circumstances. Let me elaborate on this point. First, the CPI has a statistical tendency to assert a higher inflation rate than the inflation that people actually experience.
The year-on-year rate of change in the consumer price index (CPI, all items excluding fresh food) turned positive in June, increased to 0.9 percent in October, and is likely to slightly exceed 1 percent by the end of the year.