consumer price inflation has slowed in recent months, and despite the recent rise of gasoline prices, we expect inflation to moderate further in 2012. looking ahead, the key challenge for the long island economy will be to continue to prepare its residents for the best jobs being created here. expanding educational access and opportunity and the skills that go along with it will go a long way to broadening participation in the economy to all residents and bolstering long island in the future. thank you for your kind attention. i would be happy to take a few questions. for more information, see the new york fed ’ s consumer credit panel. bis central bankers ’ speeches

of the poor and those in vulnerable situations ; on hunger : targets include doubling productivity and incomes of small - scale food producers through secure and equal access to financial services ; on health and well - being : ensure universal health coverage, including financial risk protection ; on education : ensure all youth and a substantial proportion of adults achieve literacy and numeracy ; on decent work and economic growth : encourage the formalisation and growth of micro and small and medium enterprises, including through access to financial services ; on industry, innovation and infrastructure : increase access of small scale industrial enterprises to financial services ; and of particular interest to this forum, on inequality : reduce the transaction costs of migrant remittances to less than 3 per cent and eliminate remittance corridors with costs higher than 5 per cent. the list goes on. yet, based on a recent survey report by globescan, only one third of the private sector 2 / 5 bis central bankers'speeches respondents reflected on sdgs in setting long - term sustainability strategies for their organisations. this should concern us. in 2015, 15 years after the millennium development goals were adopted, the united nations itself conceded that the millennium development goals, despite propelling significant progress, fell short for many people. so a different approach was taken for the sdgs. one that was more encompassing and inclusive. five million people from 88 countries shared their deepest, most pressing concerns and aspirations to create the sdgs. these aspirations would ring hollow without the dedication and commitment of those with the influence and position to make a difference. for the financial sector, this needs to go beyond the cursory initiatives that have generally been associated with “ corporate social responsibilities ”. greater progress by financial institutions to more fully embrace sustainable principles in their business strategies will play an important catalytic role in delivering the sdgs. among other things, it would provide a stronger focus on needs - based selling, increase financial resources that are directed at economic activities that promote sustainable goals, and encourage support for businesses to adopt sustainable practices. looking beyond remittances turning more specifically to remittances which is the focus of this forum, more can and should be done to amplify the developmental impact of remittances. in its report sending money home, the international fund for agricultural development estimates that about 1 billion people – migrants and their families – send and receive remittances. this translates to one in seven people in the world. the most dynamic growth in remittances over the past decade has