Free Trial

Goldman Sachs Say Inflation Data Supports View That Tightening Cycle Ended

COLOMBIA
  • The April inflation print was mostly driven by housing and transport prices. By comparison, food prices, the main driver of inflation throughout 2022, contracted for the first time since June-2021.
  • Annual headline inflation declined by 52bp to 12.8% for the first time since May-2021 due to favourable base effects. The inflation peak was in line with consensus and Banrep’s expectations, supporting Goldman Sach’s view that the MPC ended the tightening cycle with the April hike.
  • However, GS highlight that core (ex-food and ex-food & energy) and services inflation continue to drift further above target. This and widely disseminated inflation pressures warrant a conservative calibration of the policy stance.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.