Macroeconomic Forecast Nicaragua

BMI View: Nicaragua's rate of inflation is the highest in the region, with the headline CPI rate surging by 18.9% y-o-y in March. The rising popular frustrations over increasing food costs and higher fuel prices have led to street demonstrations in the capital, Managua. President Daniel Ortega has urged local companies to lower prices for staple foods, such as milk and beans, but any downward movement in prices is unlikely at this stage. We have revised up our end-2008 CPI target by four percentage points to 14.0%. Our end-09 projection remains at 9.5%.

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