Macroeconomic Forecast Nicaragua

BMI View: Consumer price inflation in Nicaragua fell to 7.2% y-o-y in February, from 9.2% at the end of 2010 according to the Banco Central de Nicaragua. On a month-on-month basis, growth in the consumer price index was 1.3% in February, up from the 1.0% contraction printed in January. While elevated global oil prices, driven by ongoing tensions in the Middle East and North Africa, pose an upside risk to our inflation forecasts , with more mild demand-pull pressures we still believe that the economy is on track to post 7.5% y-o-y by end-2011.

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