Macroeconomic Forecast Guatemala

Headline inflation surged into double digits in April at a rate of 10.4% y-o-y. This CPI outturn represented the fastest pace in well over a decade, fording the government to launch an emergency package to deal with high international commodity prices. We are now forecasting inflation of 9.2% by end-2008 (up from 7.0) and 7.0% by end-2009 (from 5.2%). What is more, this upward revision may not prove far enough should commodity prices remain firmly bid for the remainder of this year.

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