Third, on the price front, the year-on-year rate of change in the CPI for all items less fresh food is likely to be slightly negative or about 0 percent for the time being, as shown in blue in the chart.
Thereafter, the rate of change is expected to increase toward 2 percent in the second half of the projection period in line with an improvement in the output gap, as will  2  likely be evidenced by a further decline in the unemployment rate, and a rise in medium- to long-term inflation expectations.