End-year inflation expectations rose, for a second consecutive month, to 7.29% y/y in April from 6.98% y/y in March, the Central Bank said on April 17.
Participants of the Central Bank’s monthly expectations survey also revised up their 12-month ahead inflation expectations from 6.78% to 6.91%. Consumer prices are expected to increase 0.85% m/m in April, higher than the previous month’s estimate of 0.73% for April.
GDP growth expectations for 2015 were cut to 3.1% in April from a previous 3.3%. The country’s current account deficit is expected to be $37.9bn at the end of 2015 whereas the previous estimate was $39.4bn.
|Central Bank Expectations Survey|
|End-Year Inflation (%)||9.16||9.22||9.02||6.82||6.77||6.98||7.29|
|12-Month Ahead Inflation (%)||7.54||7.50||7.21||6.81||6.69||6.78||6.91|
|End-Year Current Account Deficit ($ bn)||-47.8||-46.7||-44.6||-41.4||-40.3||-39.4||-37.9|
|End-Year GDP Growth (%)||3.2||3.2||3.0||3.4||3.5||3.3||3.1|
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