The August surveys of expectations conducted by Central Banks in the region indicate that the simple average of growth expectations in 2021 increased by 0.3 percentage points from 5.4% to 5.7% and the simple average of inflation expectations increased by 0.3 percentage points from 4.8% to 5.1%. Chile, Guatemala, Paraguay, Peru and Uruguay registered increases in growth expectations and the remaining countries do not present changes. On the other side, higher inflation expectations are observed in most of the countries, except in Guatemala.

In the case of expectations for 2022, the August surveys indicate that the simple average of growth expectations decreased 0.1 percentage points while inflation expectations increased 0.1 percentage points. Only in Uruguay registered an increase in the expectations of growth, while Brazil, Guatemala and Peru present negative changes respect to July’s survey. In the case of inflation, it is observed an increase in most countries but Colombia and Paraguay inflation expectations remained stable.