Colombia Central Bank Survey Sees 2.011 Inflation At 3.62%

The Colombian central bank's monthly survey of inflation expectations for 2.011 showed an increase in November from the previous month, with analysts on average projecting prices to increase 3.62% for the year, within the central bank's target range of 2% to 4%.

The November projections are higher than in October, when the survey resulted in an average estimation of a 3.43% increase in prices for the year.

The poll of 39 analysts, released Friday by the central bank, also projected that inflation for November should come in at 0.19% on month.

Colombia's consumer price index posted a 0.19% increase in October while the market consensus pointed to a 0.10% increase in prices. 

In its last monetary policy meeting, the bank paused its rate hikes for a third straight time, citing concerns over the health of the global economy and the impact of a potential slowdown on the Colombian economy.

The central bank's poll also shows that analysts on average expect the foreign exchange rate to stand at COP1,900.94 to the dollar by the end of 2.011. 

For the end of November, the average forecast is for the peso to trade at COP1,915.94. 

On Friday, the peso closed at COP1,912.30 to the dollar from COP1,913.5 a day earlier.