Prices will keep pace with inflation, which is expected to reach 10-10.5%, given no cataclysms.

In the medium term, prices will remain the same in February, but may grow in March.

The cold snap [which seized the country last week] sent prices for diesel fuel rocketing, as there was an acute shortage and, accordingly, a high demand for it.

Lowering inflation to 3-4% annually should be a priority, a major instrument of economic policy, and we have the means to lower inflation to this level.

The Fed will want several months to confirm that inflation risks have shifted lower and there are subtle phrases that suggest they're not really believers. Take core [personal consumption expenditure inflation] down to 1.5% and they'll sing a louder tune.

We think inflation in the middle of this year will be back below target. We are likely to see 5 percent base rates by the middle of the year.