Colombia: Inflation accelerates in July
Consumer prices increased 0.32% over the previous month in July, bouncing back from June’s 0.05% dip. July’s upturn was chiefly driven by building price pressures for food and non-alcoholic beverages, as well as higher costs for housing and for transportation.
Inflation accelerated to 4.0% in July, above’s June’s 3.6% reading, logging an over three-year high and landing on the upper band of the Central Bank’s 2.0–4.0% target range. Accordingly, annual average inflation increased to 2.2% in July, following June’s 2.0%. Lastly, core inflation came in at 3.6% in July, above June’s 3.4%.