Colombia |Annual inflation in May falls to 9.07%, but still far from victory
In May, monthly inflation was 0.84% and annual inflation was 9.07%, close to the expectations of market analysts and BBVA Research (0.80% monthly change).
Colombia | Food prices push inflation in November to 5.26%.
Inflation in November had a monthly variation of 0.50% and reached 5.26% in annual terms. Food for home consumption was once again a protagonist in the month's result, with a monthly variation of 1.45%.
Colombia | No-VAT day in October gives temporary relief to inflation: stood at 4.58%
Inflation in October had a monthly variation of 0.01% and stood at 4.58% YoY. The fall in the price of goods benefiting from the VAT-free day policy offset the price increases observed in the rest of the basket, mainly in food and related items.
Consumer prices increased by 2.39% in October surprisingly lower than expectations, resulting in an annual inflation of 19.89% up from 19.58% the month before. We expect consumer inflation to be 19.5% at the end of the year, with risks clearly on the upside.
Peru | Central Bank hikes by 50bp again in response to unanchored inflation expectations
The Board of the Central Bank decided to increase the monetary policy rate from 1,00% to 1,50% in October. The Bank once again deems convenient to maintain an expansive policy stance for a prolonged period.
Inflation in August had a monthly variation of 0.45% and stood at 4.44% in annual terms. Foodstuffs continue to be the protagonists in recent increases, although price increases in other goods and services that are highly dependent on the exchange rate.
Turkey | Consumer inflation reached 18.95% in July
Consumer prices increased by 1.8% in July, higher than expectations on the back of upside surprise in food prices resulting in an annual inflation of 18.95% (up from 17.53% the month before). We expect consumer inflation to stay close to 18.5-19% till November and end the year at 16% with the help of positive base effects.
Consumer prices increased by 1.94% in June, remarkably higher than expectations on the back of reopening, resulting in an annual inflation of 17.53% (up from 16.59% the month before). We expect consumer inflation to hover around 18.5% till November and end the year at near 16% with base effects.