Colombia Inflation July 2019


Colombia: Inflation climbs in July amid a weakening of the peso

August 5, 2019

Consumer prices rose 0.22% over the previous month in July, following a 0.27% month-on-month upturn in June. July’s print reflected a softer increase in the prices for food and non-alcoholic beverages, and transport. Moreover, prices for clothing and footwear, and restaurants and hotels swung to decline.

Inflation shot up to 3.8% in July from 3.4% in June. Nevertheless, it remained within the Central Bank’s target range of 3.0% plus or minus 1.0 percentage points. Rising food prices led the charge, partly owing to a weaker peso boosting the cost of food imports. Meanwhile, annual average inflation inched down to 3.3% in July from 3.4% in June.

Core consumer prices, which exclude volatile items including fresh food and fruit, rose 0.2% over the previous month in June—the latest month for which data is available—mirroring May’s reading. Lastly, core inflation creeped up to 3.3% in June from 3.2% in May.

Panelists participating in the LatinFocus Consensus Forecast expect that inflation will end 2019 at 3.4%, which is up 0.1 percentage points from last month’s forecast. The panel expects inflation to end 2020 at 3.2%.

Author:, Economist

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Colombia Inflation Chart

Colombia Inflation July 2019

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

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