Colombia’s peso bonds dropped after a government report showed consumer prices rose more than forecast last month led by an increase in food costs.
The yield on the nation’s benchmark 11 percent bonds due in July 2020 increased seven basis points, or 0.07 percentage point, to 10.62 percent at 8:39 a.m. New York time, according to Colombia’s stock exchange. The price fell 0.491 centavo to 102.299 centavos per peso.
The peso was little changed at 2,233 per dollar, from 2232.5 on Jan. 2, according to the Colombian foreign-exchange electronic transactions system, known as SET-FX.
Colombia’s inflation quickened to 0.44 percent last month, higher than the 0.29 percent median forecast in a Bloomberg survey. Annual inflation ended 2008 at 7.67 percent, higher than the central bank’s 3.5 percent to 4.5 percent target. (Bloomberg)
