As for the median of the forecasts, the yearon-year rate of change in the CPI is projected to be minus 0.2 percent for fiscal 2012, 0.4 percent for fiscal 2013, and 0.9 percent for fiscal 2014 excluding the direct effects of the consumption tax hike.
Exports as a share of GDP have almost doubled in the United States in the past 30 years but have been showing weakness recently. Mexico has seen a steady rise in exporting, particularly in the wake of NAFTA, and today has an export-toGDP ratio approaching 35 per cent.