Macroeconomic Forecast Costa RicaMay 2012 | Macroeconomic Forecasts
BMI View: Consumer price inflation increased quite substantially in April, reaching 4.71% y-o-y, from the year-to-date low of 4.06% in February. We believe these inflationary pressures are mainly a result of elevated fiscal expenditure and pass-through effects from relatively high oil prices, which are keeping price pressures elevated in H112. Although a weaker external climate should see some of these pressures cool in the latter stages of 2012, imported inflation resulting from anticipated currency weakness should keep inflation around these levels, in line with our end-2012 4.80% forecast.
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