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.
We have been able to manage the external shocks we faced in recent years thanks to the floating exchange-rate regime. Likewise, stability has allowed an important increase in our international reserves. No doubt, our reserves have been one of the factors that explain the isolation of the Mexican economy from contamination by the events in Argentina, Brazil and Venezuela.