There are a couple of points. If you go back to the start of last year, we were forecasting that inflation would be around 3% last summer and then from there, it would gradually go back down. On the first part, actually, that projection proved to be pretty accurate. Inflation was 2.8% in June.
What's happened since then? It's a combination of a lot of things. The first thing is that oil prices went back up. That was the main factor that put inflation from 2.8% back up to 4%. The second thing we've seen is that there has been more persistence in core, underlying inflation. Core inflation has been running at around 3.5% for six months to a year now—