Of all items covered by the CPI, those for which the price has increased accounted for over 80 percent, whereas those for which the price has declined accounted for around 10 percent, both on a year-on-year basis as of January 2023 (Chart 11).
Even compared with around 2008, when the CPI rose triggered by higher import prices of crude oil and other items, price hikes have spread across a wider range of items. Let us also look at other indicators that take into consideration the price change distribution.