Focusing solely on items closely related to consumers’ daily lives, such as food, the year-on-year rate of change has more clearly entered positive territory than in the case of other items. BIS central bankers’ speeches  1  Baseline scenario for the outlook through fiscal 2013 Next, I would like to talk about the outlook for economic activity and prices.
Our current projections and assumptions indicate that further policy easing will be required to ensure that future inflation settles near the middle of the target range. Actual inflation has been low, and lower than forecast, for several years – both here and abroad. The potential reasons for this are a topic of discussion around the world.