As you can infer from the data I have already presented, the early returns are encouraging.
Among the major inflation-targeting countries, the inflation rate has recently been in the range of 1 to 3 percent in Chile, 5 to 8 percent in Colombia, 4 to 6 percent in Mexico, 1 to 4 percent in Peru, and (as already noted) 6 to 8 percent in Brazil.