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Colombian Central Bank Says Peso Drop May Boost Inflation

The plunge in the Colombian peso may stoke higher consumer price increases and inflation expectations, the nation’s central bank said.

“If this depreciation persists, it may be transmitted in a greater way to internal prices, and generate higher inflation expectations,” policy makers said in the minutes to their Nov. 28 board meeting, published today. “At this time, inflation expectations are stable, and somewhat above 3 percent.”