Well, let me say a couple of things.
First of all, you don't get to 8.1% inflation because of one thing. A whole number of things happened. As I discussed in Halifax, the initial push to inflation was largely from global factors, like higher goods prices and higher oil prices.
As you highlighted, increasingly the inflation we see in Canada reflects what is happening in Canada. Our economy is in excess demand. It is overheated. Essentially, businesses can't produce as many goods and services as consumers want to buy, so prices are going up.
Why is the economy in excess demand? We went through the deepest recession in history, which was followed by the fastest recovery ever. Now we're on the other side of that.
Yes, inflation is certainly too high and we are committed to restoring price stability.