As for inflation, it is expected to be higher in 2006, given the continued upside risks. Oil prices, for example, are expected to remain high relative to their historical trend and the RVAT is likely to exert, at least a short-term, upward pressure on consumer prices.
Taking into account the recent easing of oil prices, as well as the strengthening of the peso, inflation is expected to hover between 7.5 and 8.1 percent in 2006. Let me point out though that we do expect an easing of inflation in the second half of the year, as the impact of the RVAT diminishes.