However, this deviation was a consequence of the evolution of the agricultural sub index, whose prices are extremely volatile, and of the goods subject to government-administered prices, which are not determined by the market. This year it is to be expected that the inflation rate will converge to our 3 percent target.
I always try to give an example: The UK lost some 3.5 million industrial jobs (50% decrease) between 1978 and 2003 and gained over this period some 3 million jobs in the financial sector (100% increase); as the value added in the latter may be 4 times higher than in industry, the total gain for the economy has been enormous and is the main explanation of the success growth story of the UK in the last couple of decades.