In July, consumer prices fell 0.02% over the previous month. The reading contrasted both the 0.08% rise observed in June as well as market expectations of a 0.06% increase. The monthly figure reflected how lower prices for food, housing and communication more than offset higher prices across the remaining categories. As a result of the monthly price fall, annual headline inflation dropped from 3.2% in June to 3.0%, its lowest level since May 2011. The core inflation index, which excludes volatile items such as fresh food and fuels, added 0.24% month-on-month in July. As a result, annual core inflation inched up from 3.6% in June to 3.7%, thus still within the Central Bank's target of 3.0%, with a +/- 1.0 percentage point tolerance margin.
Inflation falls to lowest level in over a year
August 7, 2012
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Colombia Inflation Chart
Note: Year-on-year and month-on-month variation of cons. price index in %.
Source: Colombia National Statistical Institute (DANE).
Colombia Economic News
October 7, 2016
In what was a narrow and shocking result, Colombians rejected the peace agreement between the government and the FARC at the 2 October referendum.
September 30, 2016
In August, exports grew 7.0% over the same month last year, which sharply contrasted the 27.3% plunge recorded in July.
September 30, 2016
The seven-member board of the Central Bank (BanRep) unanimously decided to keep the reference interest rate unchanged at 7.75% at its 30 September monetary policy meeting.
September 16, 2016
Industrial production unexpectedly shrank 6.2% annually in July, which contrasted the 6.7% increase seen in June.
September 5, 2016
The Central Bank’s (BanRep) efforts to fight inflation through tighter monetary policy seem to be finally paying off.