Since the middle of last year, however, as the economy started to reopen, we have seen steady progress toward maximum employment. That progress continued in September, with the unemployment rate moving down to 4.8 percent.
In addition, the growing trend in the rate of decline in wages may also work as a factor to push prices downward, mainly in services prices which are apt to be influenced by this aspect. Overall, prices are expected to follow a gradual declining trend for the time being.