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Annual CPI slowed to 10.9% in October from 11.9% in September and a peak of 15.9% in May. Core CPI was down to 10.2% from 11.0% in September.
At the end of last week, negotiations between the Ministry of Finance and the ad hoc committee of VRI holders ended without a deal. However, the parties signalled that there are good prospects of reaching an agreement in the future.
The monthly current account (C/A) deficit stood at US$3.2bn on a record foreign trade-in-goods gap of US$5.0bn in September. Import of goods hit a record high at US$8.0bn in September (+34% YoY) on surging imports of machinery and equipment. Meanwhile, export was almost unchanged vs last September.
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