Macroeconomic Forecast Honduras

Honduras's consumer price inflation remained stable at 7.7% y-o-y in July 2011, still the highest level of price growth since May 2009. While we maintain that inflationary pressures are unlikely to be a major concern for social unrest in the near term, we warn that any further increases could hurt the economy's investment environment. That said, as our commodities team expects global commodity prices to moderate in H211 we are sticking to our 7.5% y-o-y end-2011 inflation

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