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August Inflation Data Due After Market Close

COLOMBIA
  • Headline CPI is expected to continue its downtrend in August and core CPI is also expected to make its first meaningful step lower from the 11.62% peak earlier this year. The data will be important given the most recent rhetoric from both President Petro and Finance Minister Bonilla over the desire to begin monetary easing at the September meeting. Data is due at 0000BST/1900ET:
    • Aug. CPI Y/y, est. 11.19%, prior 11.78%; M/m, est. 0.47%, prior 0.50%
    • Aug. Core CPI Y/y, est. 11.12%, prior 11.44%; M/m, est. 0.51%, prior 0.57%
  • Separately, according to Bloomberg, Summit Materials agrees to merge with Argos North America Corp., the US operations of the Colombian Cementos Argos in a cash and stock transaction valued at $3.2 billion. Cementos Argos would own about 31% of the combined company.

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