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CPI Below Estimates

COLOMBIA
  • *Colombia January CPI 0.41% m/m; Est. 0.46% *Jan. CPI 1.6% y/y; est. +1.65%
  • *Colombia Jan. Core CPI rises 0.21% m/m; prior 0.37% *Jan. Core CPI rises 0.89% y/y; prior 1.03%

These figures were released late Friday and despite the headline falling slightly below estimates, were very much in line with the previous month's readings. Notable downtick in the core readings.


Separately, Colombia will enter into negotiations with state oil company Ecopetrol SA for the sale of the government's controlling stake in an electricity transmission utility, which is expected to fetch as much as $4 billion.

Officials in coming days will finalize an exclusivity contract with Ecopetrol under which the two sides will conduct due diligence and formulate the terms of the sale of the 51.4% of shares of Interconexion Electrica SA held by the government, Finance Minister Alberto Carrasquilla wrote in a letter to the company. (bbg)

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