Guatemala's living costs exceed central bank's goal

The Bank of Guatemala began 2008 with a forecast of a cost of living increase between four and seven percent this year, but the nation started the year with a jump of 8.39 percent and in June the increase touched 13.56 percent compared with the year-earlier figure.

Wednesday, July 23, 2008

"We see a scenario of inflation above the goal," admitted Bank of Guatemala President María Antonieta Del Cid de Bonilla, at the end of her report to the Legislature.
The bank would not deny that it might continue to gradually withdraw money from the market to control inflation with a minimum effct on economic growth.

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