However, when identifying the underlying trend in prices, I personally consider that it also is important to examine the price index that includes food, given that food expenditures in Japan account for a larger proportion of household expenditures than in other countries – such as the United States – and that the rise in the prices of daily necessities has been weighing on consumer sentiment since 2014.
The importance of independent central banks is well understood. But there may be some tensions, because there may be a level of expectation for central banks that is too high after years of financial crisis. There may be a temptation to make central banks responsible for things that governments should address through fiscal policy, for example.