Macroeconomic Forecast Guatemala

BMI View: Guatemala's consumer price inflation remains on the broad upward trajectory in play since the early part of 2010, rising to 5.4% y-o-y in December from 5.3% in November. We expect this trend for moderate price rises to persist into 2011 as the economy continues its recovery, although the modest outlook for real GDP growth will help to keep upside price pressures well below pre-crisis levels, and we are pencilling in inflation of 5.5% y-o-y come end-2011.

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