That is why our forex reserves went from $ billion to almost a hundred billion dollars between 2008 to 2012. On the other hand, we can allow the peso to depreciate if that is part of market fundamentals. Looking to history as guide My point is, we are quite confident that we are already on a target-consistent path of inflation.
If you count the number of months where we are [inflation was] above target, in the past, the longest [streak] was 15 months. In this particular case, as I said, we were hit by a really large and long wave of supply shocks. In the last 12 months, everything was 0.4 percent [in terms of m-o-m inflation] or higher.