BOGOTA, Nov 29 - Colombian inflation for November is projected at 0.20%, influenced primarily by fluctuations in food prices, as indicated by a Reuters poll. The forecast suggests a decline in year-end expectations, with estimates from 20 analysts ranging between 0.14% and 0.29%. If the median estimate is realized, the inflation rate would be lower than the 0.47% increase recorded in November 2023, yet higher than the contraction of 0.13% noted in October. Bancolombia anticipates a rebound in food inflation following previous deflation, while seasonal events are expected to contribute to lower inflation rates for goods.
The 12-month inflation rate through November 30 is expected to be 5.13%, a decrease from 5.41% at the end of October, although it remains above the central bank's target of 3%. The DANE statistics agency is set to release the official inflation figures on December 6.
OTTAWA, Nov 29 - Canada's budget deficit for the first half of the 2024-25 fiscal year has surged to C$13.01 billion ($9.28 billion), a significant increase from C$8.17 billion during the same period last year. The finance ministry attributes this rise to a faster escalation in program expenses and debt servicing costs compared to revenue growth.
Program expenses saw an 11.2% increase across all major spending categories, while public debt charges rose by 22.5%, largely due to higher interest rates. Year-to-date revenues increased by 9.6%, driven by higher personal and corporate income tax collections. In September, Canada recorded a monthly deficit of C$3.17 billion, which is an improvement from the C$3.88 billion deficit reported in September 2023.