Japan’s consumer prices are “rising moderately,” according to the government’s February economic assessment.

This is the first time in over five years that the government has recorded a price increase. The report also noted that as in January, the economy in general is gradually recovering. Exports were described as flat in February after weakening in January.

This is welcome news for a country whose government and central bank have declared war on deflation with expansive monetary policy and fiscal stimulus.

Akira Amari, the cabinet minister in charge of economic recovery, presented the findings.

SOT AMARI, CABINET MINISTER IN CHARGE OF ECONOMIC RECOVERY:

“As a whole, prices for a wide range of items have risen moderately. However, it will be a long time before we can say we have rid ourselves of deflation, so it is important that we monitor price trends.”

Amari said that he expects a rush of economic activity in anticipation of April’s consumption tax hike, followed by a lull after it goes into effect.