According to our forecast, the consumer price index for July will have shown an increase of 0.5% while year-on-year inflation should move from June’s 2.5% to 2.6%. Holiday prices contributed the most to this price level increase. The start of the holiday period puts the biggest pressure on travel agencies, hotels and pensions as their prices usually rise significantly. In addition, the 2% increase in natural gas prices for households will show up in the inflation figures, as well as the run out of the effect of the increase in the excise tax on tobacco products. On the other hand, the index was pushed down by summer sales of clothes and shoes and cheaper potatoes and vegetables. For the rest of the summer, inflation should oscillate near the 2.5% year-on-year figure; but, in the 3Q07, it should, according to our estimates, jump above the 3% level. At the beginning of next year, we are looking for the CPI to attack the 4% level.