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Colombia's January retail sales surged 10.1% (vs. 4% expected), electronics up 50%, vehicles 23%, as manufacturing grew 1.9%.

Last week in Colombia was one totally bereft of either macro data or economic surveys; this week will be the polar opposite.

While the president is away at the COP27 summit, inflation hit a 23 year high, which will no doubt affect the coming minimum wage increase.

After the first COVID-19 tax holiday was condemned as irresponsible, the Colombian government is restricting electronics & appliance sales during the next two tax holidays taking place in July where shoppers will be exempt from the country's 19% VAT tax.