Economy Ministry Forecasts 1% Inflation In March

Inflation should rise to 3.7% by the end of 1Q, according to the Ministry’s estimates. The ministry also said 2Q will be characterized by lower inflation rates. Concorde Capital: CPI inflation behavior in the early months of 2004 replicated that of 2003, when 1Q-inflation reached 3.7% and annual inflation was 8.2%. Our 2005 inflation forecast remains 11%.