The Consumer Price Index for February reported by the Central Bank was 0.04%. Accumulated inflation for the two first months of the year is 0.83%, a drastic reduction when compared to January-February inflation in 2004, that was 21.52%. Inflation over the past 12 months has declined from 18.79% as of January to 6.82% in February 2005. The reduction in inflation is attributed to the appreciation of the peso.