The year-on-year rate of change in the CPI, after having reached its peak at 4.2 percent in January 2023, has fallen to the range of 3 to 4 percent, due partly to a decline in energy prices owing to the government's support measures.
However, as there seems to be a change in firms' price-setting stance, price rises, such as of food, are expected to continue for a while, and the  2  situation of inflation exceeding 2 percent will likely remain for the time being, with a contribution mainly from rises in goods prices.