Chart 9  Consumer Prices 4  y/y % chg.  3  2  1  0  -1  -2  CPI (all items less fresh food) CPI (all items less fresh food and energy)  -3 CY 85  90  95  Note: Figures are adjusted for changes in the consumption tax rate. Source: Ministry of Internal Affairs and Communications.
5 / 11  BIS central bankers' speeches  The European story In recent years, the Eurozone has been following a similar path to that of the Japanese economy in the 1990s and early 2000s. Starting in 2009, countries on the periphery of the Eurozone drifted into a severe sovereign debt crisis.