This statement provides information that has become available since the staff report was finalized. This information does not alter the thrust of the staff appraisal . 1. Headline inflation reached 6 percent (year-on-year) in December 2019 . Consumer Price Index picked up during the last quarter of 2019, reflecting upward adjustments in energy prices. Inflation developments (12-month rates, in contributions, percent) Source: Central Bank of Nicaragua 1/ The tax reform of March 2019 widened the coverage of products subject to VAT. 2. Monetary