Macroeconomic Forecast Puerto Rico

June 2008 | Macroeconomic Forecasts

According to the Puerto Rico Planning Board's newly-created inflation index, headline CPI came in at 8.5% y-o-y in January. In particular, 'food and beverage' (up 11.7% y-o-y) and 'housing' (11.4% y-o-y) have been the main drivers of inflation - both of which are highly weighted in the consumer price basket. While we have see a moderation in price pressures (under the old index, inflation was running at 18% y-o-y in mid-2007), we are holding onto our end-2008 CPR projection of 12% for now.

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