In particular, consumer demand for services and durable goods has kept increasing, and this seems to be exerting upward pressure on overall prices (Charts 5 and 6). In fact, these developments have begun to be seen in a wide range of consumption goods and services.
A detailed examination of items that comprise the CPI reveals that the number of items for which prices have risen year on year has increased steadily while those for which 4  BIS central bankers’ speeches  prices have declined has decreased steadily (Chart 16).