14 See, e.g., Division of Banking Supervision and Regulation and Division of Consumer and Community Affairs, Board of Governors of the Federal Reserve System, “Guidance on Managing Outsourcing Risk,” www.federalreserve.gov/bankinforeg/srletters/sr1319a1.pdf, December 5, 2013.
Consumer prices have increased above the previous year’s level due to the rise in prices of perishables. Excluding this temporary effect, consumer prices basically remain weak. As for the outlook, although public investment is expected to increase, distinct narrowing in the output gap is hardly expected toward the first half of 1999, as private demand is likely to remain sluggish.