The reasons for these adjustments were previous gains in the reduction of inflation, and the softening of economic activity, viewed as consistent with diminished foreseeable inflation pressures. After a slight decline in average annual inflation, price growth picked up at the end of 2013 and surpassed the upper limit of the variability interval in January.
On the statistical front, the main effort then was directed at fuller international harmonisation of real statistics, which resulted in the 1993 System of National Accounts; at the same time, as I mentioned earlier, integrating real and financial accounts was proving elusive.