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AUSTRALIA: Albanese Lines Up Budget for May Election

AUSTRALIA: Albanese Lines Up Budget for May Election

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Headline CPI Eases To 9.07%, Core Inflation Rises

COLOMBIA
  • Inflation data released over the weekend was broadly in line with median surveyed estimates:
    • Colombia May Consumer Prices Rise 0.84% M/m, Est. +0.85%
    • Colombia May Consumer Prices Rise 9.07% Y/y, Est. +9.08%
  • Despite the fact that consumer prices eased moderately last month, annual core inflation, which excludes the most volatile items of the consumer’s basket, accelerated to 6.5%, the highest since July 2016. This potentially raises concern for the BanRep board ahead of the June 30 meeting.
    • “Core inflation worries me a lot,” Scotiabank economist Sergio Olarte said by phone. “An interest rate increase of 150 basis points this month is very likely”. (BBG)
  • Construction magnate Rodolfo Hernandez leads Colombia’s presidential runoff in a new survey published on Sunday by El Tiempo newspaper.
  • The poll, carried by Guarumo S.A.S and EcoAnalitica Medicion y Conceptos Economicos S.A.S., shows Hernandez ahead by 3.1 points with 46.4% against leftist candidate Gustavo Petro, with 43.3%. The firms interviewed 1,958 people between June 1 and 4. The survey has a margin of error of 2.5%.
    • The new results clash with a previous study that shows Petro retaking the lead by a similar margin. Null votes are estimated to reach 8.4%, with some regions above 20%, according to the Guarumo-EcoAnaltiica poll. (BBG)
  • Mexican President AMLO says that Colombian leftist presidential candidate Gustavo Petro is facing a “dirty war”.
    • Colombian Foreign Affairs Ministry said AMLO’s opinion constitutes “interference” in the country’s internal affairs.
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