But I can assure you that we will continue to monitor very closely all developments in the period ahead, in order to be in the best possible position to continue to deliver on our task of maintaining price stability over the medium term, and thereby support the purchasing power of euro area citizens.
In particular, the increased demand from emerging economies for various commodities; demand for specific food crops and bio fuels; and slow supply responses, amplified the price pressures. Second, on the domestic front, core inflation had remained in single digits since 1996 but rose above the 10 percent mark after April 2008.