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Bank of Guatemala Says Inflation on the Rise

Article Summary:

Guatemalan consumers have less cash to go around after paying higher costs for fuel, raw materials, and government fiscal policies. According to the survey of economic expectations of the Central Bank of Guatemala, inflation in 2011 would close at 6.50% and 8.30%minimum and maximum.

Photo Credit: Americaeconmia.com


Original Article Text From Americaeconmia.com:

Inflation or cost of living measures the purchasing power of people could end this year at a rate of 7.13%, expected the panel of private analysts who see the Bank of Guatemala (Banguat).

According to the survey of economic expectations of the central bank, inflation in 2011 would close at 6.50% and 8.30%minimum and maximum.

This behavior would be associated with the international price of oil, raw materials, fuel, performance of fiscal policy and politics.

By November, according to experts, inflation would stand atv6.94%. Minimum value is estimated as 6.35% and a maximum of 7.60%.

Regarding economic activity, analysts estimate that private economic activity for 2011, as measured by Real Gross Domestic Product, will grow by 2.9%, a level equal to that provided in the previous survey.

Experts believe that the main factors that could affect the pace of GDP is the price of oil and fuel, the performance of fiscal policy, strengthening the internal market, the levels of interest rates (internal and external) and stability in the general price level.

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