Macroeconomic Forecast Honduras

Honduras' consumer price inflation remained stable at 7.7% y-o-y in June 2011, which is the highest level since May 2009. While we do not expect inflation to become a major concern for social unrest in the near term, we warn that a rise in the rate could hurt the economy's investment environment. That said, with our Commodities team expecting global commodity prices to moderate in H211 we are sticking to our 7.5% y-o-y end-2011 inflation

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