There is a discontinuity in the data in December 2003 due to a change in the survey framework. Source: Bank of Japan. 10  Chart 11  Inflation Expectations y/y, ann.
avg., % 2.5 Economists (6 to 10 years ahead) Firms (5 years ahead) 2.0 Households (over the next 5 years)  1.5  1.0  0.5  0.0 CY05  06  07  08  09  10  11  12  13  14  15  16  17  18  Notes: 1.