I have explained the recent environment surrounding prices from these three aspects -- human resources, tangible factors, and intangible factors. Needless to say, there are factors other than these that could affect prices. Despite current economic expansion and tight labor market conditions, the trend inflationary pressure on the CPI has remained relatively weak.
This has been affected by the deeply entrenched mindset and behavior based on people's assumption that wages and prices will not increase easily, due mainly to the experience of prolonged low growth and deflation.