Colombia Inflation


Inflation picks up to 17-month high in April

In April, consumer prices rose 0.46% over the previous month, which followed the 0.39% increase registered in March. April's print overshot the 0.34% increase that market analysts had expected and mainly reflected rising prices for foodstuffs. Annual inflation edged up from 2.5% in March to 2.7% in April, which marked the largest increase since November 2012.

The core inflation index, which excludes volatile items such as fresh food and fuels, rose 0.23% month-on-month in April (March: +0.25% month-on-month). Annual core inflation inched down from March's 2.9% to 2.8% in April, thus remaining anchored within the Central Bank's tolerance margin of plus/minus 1.0 percentage points around its 3.0% target.

LatinFocus Consensus Forecast participants expect that inflation will close 2014 at 3.0%, which is unchanged 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 April 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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