The "baseline" is the average for the corresponding half of the month for fiscal 2016 through fiscal 2018. Sources: Ministry of Health, Labour and Welfare; Nowcast Inc./ JCB, Co., Ltd., "JCB Consumption NOW." 5  Chart 6  I.
Economic Developments  Inflation and Policy Rates in Major Economies Inflation 20  Policy Rates  y/y % chg.  3.5  %  United States  United States 3.0  Euro area 15  Euro area  2.5  United Kingdom  United Kingdom  2.0  10 1.5 1.0  5  0.5 0.0  0  -0.5  -5 CY 80  85  90  95  00  05  10  15  20  -1.0 CY 15  16  17  18  19  20  21  22  Notes: 1.