The behavior of a series called “non-tradable goods excluding food and regulated prices” is particularly worth noting, with an annual price increase of 4.8% at December 2006 and 5.6% at present, including a major build-up in the months of July and August.
When the accumulation of financial imbalances that are accompanied by excessive monetary and credit growth endangers our ability to maintain stable prices over the medium term, we have the obligation to take appropriate action.