Colombia: Inflation inches up in April
Consumer prices rose 0.50% over the previous month in April, following a 0.43% month-on-month increase in March. Higher prices for food and non-alcoholic beverages led the upturn. Increased costs for housing and utilities, and restaurants and hotels, were also significant contributors to the print.
Inflation inched up to 3.3% in April, from 3.2% in March, remaining within the Central Bank’s target band of 3.0% plus or minus 1.0 percentage points. Higher food and fuel costs, coupled with a weaker peso, have pushed up price pressures.
Meanwhile, core consumer prices, which exclude volatile items including food and fuel, rose 0.3% over the previous month in March—the latest month for which data is available—following a 0.7% month-on-month upturn in February. Lastly, core inflation remained at 3.1% in March.