The capital and labor shares are used as weights. Sources: Cabinet Office; Ministry of Internal Affairs and Communications; Bank of Japan. ‐30  Chart 8  Developments in Inflation Rates 3.5  y/y % chg., 5‐year moving avg.
3.0 2.5 2.0 1.5  Japan  1.0  United States  0.5  Euro area  0.0 ‐0.5 ‐1.0 CY 2000  03  06  09  12  15  18  Note: Japan's figures incorporate the effects of the consumption tax hikes.