The meeting confirmed that one of the important factors underlying higher inflation further out was the upward revision of forecasts for electricity inflation, which added around 0.2% to the general upward revision for inflation in outlying years.

The increased consumption-propensity of retirement fund withdrawals also resulted in an upward revision of GDP growth for 2024, 2025, and 2026, pushing up consumer spending growth proportionately even more than GDP growth.

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