Guatemala: Inflation rises in May
June 7, 2013
In May, consumer prices rose 0.27% over the previous month, which was above the 0.17% rise tallied in April. According to the statistical institute, the reading mainly reflects higher prices for food and alcoholic beverages, which were partially offset by lower prices for transportation.
Building on the monthly increase, annual headline inflation rose from 4.1% in April to 4.3% in May. Accordingly, inflation remains within the Central Bank's inflation target range of 4.0% plus/minus 1.0 percentage points for this year. Meanwhile, the core inflation index added 0.23% over the previous month (April: +0.18% month-on-month), while annual core inflation remained steady at April's 3.5%.
FocusEconomics Consensus Forecast panellists see inflation at 4.8% by the end of the year, which is up 0.1 percentage points from last month's estimate. Next year, FocusEconomics Consensus Forecast participants expect inflation to moderate to 4.7%.