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November CPI Data Scheduled After Market Close

COLOMBIA
  • After the market close, statistics agency DANE will publish Colombia inflation data for November. Both annual headline and core CPI are expected to continue their moderate downtrend, although remain stubbornly above 10%.
  • As a reminder, third quarter GDP data registered at -0.3% Y/y versus a surveyed median estimate of +0.5%. This led the technical staff at the central bank to adjust the 2023 GDP growth forecast to between 0.9%-1%. Since that data, central bank governor Leonardo Villar also stated that an “important” drop in the inflation level would lead to rate cuts, emphasising the significance of today’s data in shaping expectations for the December 19 BanRep decision.
  • Data is due at 2300GMT/1800ET:
    • November CPI Y/y, est. 10.18%, prior 10.48%; M/m est. 0.46%, prior 0.25%

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