摘要：Administered prices in Japan have long stayed moreor less flat, which is a clear contrast with the fact thatadministered prices in Europe and the United Stateshave consistently moved upward (Chart 1).1 This ispartly because, in Japan, overall price levels havestayed more or less flat for many years.2 However,although the underlying trend in consumer prices hasbeen rising in recent years, prices of many items in thepublic sector have continued to be more or less flat.Public services, including water and electricity as wellas education and medical services, account for a fairlylarge weight of economic activity in every country,and consequently moves of administered prices have aprofound impact on the CPI (Chart 2)
