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mpc: 26 The central projection for CPI inflation, on the market-based assumption about the path of official interest rates, was for it to remain close to the 2% target throughout the forecast period, as a declining contribution from the prices of energy and imported consumer goods was offset by a gradual increase in the pressure of demand on capacity. Compared with November, the profile was slightly higher around the end of the first year of the projection, mainly on account of the further increase in energy prices, but similar further out.