In December 2009, the rate of decline in the core CPI marked a 1.3 percent fall as the effects of the setback in crude oil prices receded, and is expected to continue to diminish in line with a moderate economic recovery.
In the interim assessment of the October 2009 Outlook for Economic Activity and Prices released on January 26, 2010, the median forecast for the core CPI was minus 1.5 percent for fiscal 2009, minus 0.5 percent for fiscal 2010, and minus 0.2 percent for fiscal 2011.