That is an excellent question, and I'll take a stab at it. There's no exact figure. It will depend on the relative change in the prices of all commodities versus the prices of the manufacturing products. It will also depend on cost adjustments in Canada and on how these costs compare to costs worldwide. To date, cost adjustments in Canada have been less marked than the increase in the nominal exchange rate. Therefore, especially in relation to the US, our real exchange rate hasn't changed. Thus far, the situation in relation to China has been completely different and may change even more down the road, especially since productions costs in China and, generally speaking, across Asia are on the rise. Also, the price of consumer goods that Canada and other countries import is not increasing, but in fact decreasing. So, we may currently be observing a slight change which we are duly taking note of and which may affect our inflation projections.
On May 1st, 2007. See this statement in context.