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April Inflation Data Scheduled

COLOMBIA
  • April inflation data headlines the LatAm docket on Friday. A 0.9% monthly increase is expected and the survey median estimate for annual headline inflation sees the metric dipping back below 13.00%. The core reading will be closely watched, given the explicit mention to it in Tuesday’s minutes. As a reminder, the four members that voted for the 25bp hike highlighted that core inflation continues to be high and on an upward trajectory. Core annual inflation clocked in at 11.42% Y/y in March.
  • The data is scheduled for 1200BST/0700ET:
    • April CPI Y/y, est. 12.95%, prior 13.34%; M/m est. 0.90%, prior 1.05%
  • In other news, President Gustavo Petro will wrap up a multi-day official visit to Spain by traveling to Salamanca. Spanish Prime Minister Pedro Sánchez on Thursday gave his full backing to Petro’s ambitious plan and courageous project for total peace in Colombia.

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