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Week Ahead: Argentina CPI Inflation, Brazil Economic Activity, Colombia GDP Due

LATAM
  • In the next week, focus will be on Argentina CPI data on Tuesday, where a further slowdown in monthly inflation is expected, and Brazil economic activity on Wednesday. Colombia Q1 GDP data will also cross, following earlier March activity data.
    • On Monday, the BCB will publish its weekly Focus survey, while Mexico same-store sales data for April will cross.
    • Colombia retail sales and IP figures for March will be released on Tuesday, while Argentina April CPI inflation data are also due. The recent BCRA survey showed that analysts expect monthly CPI inflation to fall to 9% in April, from 11% in March.
    • Brazil March economic activity data are due on Wednesday, with analysts expecting growth to fall to -1.5% y/y, from +2.6%, partly due to calendar effects. Meanwhile, Peru economic activity is expected to slow to +1.0% y/y in March, from 2.8%. Colombia will publish Q1 GDP data, with growth set to remain weak at +0.3% y/y.
    • On Thursday, BanRep will publish its latest economists survey.
    • BCCh will release its traders survey on Friday. The equivalent economists survey recently indicated that analysts expect a 50bp rate cut on May 23.

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