This helps explain why the inflation rate, as measured by growth in the annual consumer price index, has remained stubbornly high. Indeed, for the first time since 1998, the annual inflation rate has been rising this year, rendering the official targets – 7.5%-8.5% in 2005, 6%-7.5% in 2006 and 5%-6.5% in 2007 – little more than lip service.