Thank you, Governor, and thanks for being here once again.
When we talked about interest deductibility, you pointed out the risks to it and also the good points or the reason to do it. It seems to me there is a risk that announcing you will be doing it without having the plan in place could bring uncertainty to people as to their investments in Canada, and to head offices in Canada, and those things. But that's not the point I want to raise with you today.
I want to talk about the consumer price index and inflation. Being from the east, we're getting hit with a double whammy now, with the rise in the Canadian dollar—which is the negative side of our success, because we export a lot of fish and a lot of products such as tires into the U.S. market and are at a disadvantage vis-à-vis the situation with a lower Canadian dollar—and with the increasing price of energy for gasoline, diesel, and all of those products. It costs us more to harvest our fish, it costs us more to ship our products, and our energy is high.
If I speak to a household or a small business, they will tell me their inflation rate is a lot higher than 3%. When I look at your figures for domestic consumption, showing an increase in the 4% to 5% range, they would tend to point to a lot of that being on the energy side also. The energy side, in the basket of goods being bought, is disproportionate to all other items in those areas.
Can you tell me whether you've made those calculations, if you can identify them, and whether you see ongoing risks for the future?