The Cabinet Office released their monthly economic report for March
- Says that consumer prices are rising moderately
- Previously said that consumer prices were flat in last month's report
- Says that economy is gradually recovering
- Economic assessment remains the same as previous month
A slight upgrade in the language of the report as they now view consumer prices as "rising moderately" compared to the "flat" wording in the previous report.
No details were given as to what exactly changed their mind, but well, it is what it is. Abe and Kuroda have been long advocates of the "Japan has exited deflation" camp, so this is just the next step of the evolution process.
The real key is still whether or not the market believes that inflation will come. Right now, not all too much it seems.
