Macroeconomic Forecast Honduras

BMI View: Inflation in Honduras continues to rise, from 5.4% y-o-y in January to 5.7% in March, in line with our forecast for average inflation of 6.4% for 2012. This is slightly below the 6.8% average inflation recorded in 2011 as while elevated Brent crude costs will ensure some continued price pressure, we expect a drop in food costs will ensure that inflation is more benign in 2012.

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