The second, as I said, is energy, and on that front we have drivers of the energy prices that have to do with the recovery, that have to do with the demand, but also other factors having to do with inventory, with the wind, with maintenance in Norway, with demand in China, with the supply by Russia.
In this respect, it is worth to note that the fact that the impact of the most recent shocks on prices has concentrated mostly on short-term inflation expectations, with a sharp downturn in price growth anticipated since early 2018, attests to the merits of the actions undertaken thus far and in general to the credibility of monetary policy.