According to the Opinion Survey on the General Public’s Views and Behavior conducted by the Bank in September 2013, the respondents who chose “developments in gasoline prices” as the basis for their outlook for price levels over the next five years were nearly 50 percent of the total, and those who chose “developments in prices of frequently purchased items” (such as food and daily necessities) also were nearly 50 percent (with multiple answers allowed).
So it is definitely a challenge for business journalists to convey uncertainty to the public, just as it is a challenge for us policymakers to make decisions under uncertainty. That is the challenge, but a challenge neither of us can ignore.