Colombia Inflation


Inflation picks up to 17-month high in April

In May, consumer prices rose 0.48% over the previous month, which was a marginal increase over the 0.46% inflation rate registered in April. May’s print overshot the 0.29% increase that market analysts had expected and mainly reflected rising prices for leisure and foodstuffs. Annual inflation edged up from 2.7% in April to 2.9% in May, which marked the largest increase since October 2012. Thus annual inflation remains well anchored within the Central Bank’s tolerance margin of plus/minus 1.0 percentage points around its 3.0% target.

The core inflation index, which excludes volatile items such as fresh food and fuels, rose 0.48% month-on-month in May (April: +0.23% month-on-month). Annual core inflation increased from April’s 2.8% to 3.2% in May.

LatinFocus Consensus Forecast participants expect that inflation will close 2014 at 3.1%, which is up 0.1 percentage points from last month’s forecast. For 2015, the panel expects inflation to end the year at 3.1%.

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Colombia Inflation Chart

Colombia Inflation May 2014

Note: Year-on-year and month-on-month variation of cons. price index in %.
Source: Colombia National Statistical Institute (DANE).

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