Thank you for that.
As you know--and it bears repeating--the bank targets total inflation. That's the objective, because that's the basket Canadians recognize in terms of consumption. There is volatility around eight items in particular in that total basket of 31, particularly related to food and energy, so we take those out in terms of our day-to-day targeting. We are mindful of them, and we look at core inflation, which is very highly correlated.
When we do that--and this is important, and I talked about those four big trends--we have to be mindful of whether you can get upward drift in those items, and we have seen a strong upward drift in energy. We are starting to see globally a strong upward drift in agriculture. Even within core, because of China in particular being integrated, there is a strong downward drift in manufactured goods, so we have to be mindful.
It works, but it's not the sole method.