There is a view that it is necessary to pay attention to a similar index, the year-on-year rate of increase in the CPI (all items less food and energy). However, in Japan, food expenditures account for a quarter of total household expenditures, which is quite high among advanced economies.
BIS central bankers’ speeches  1  Naturally, we would also be concerned to ensure reliable data management so as to monitor and appropriately adjust our monetary policy operations in tandem with the related structural changes. This symposium will help us to master the role of central banks in harnessing financial innovation so as to prudently maximize financial inclusion.