Colombia Inflation

Colombia

Colombia: Inflation declines slightly in June

July 5, 2014

In June, consumer prices rose 0.09% over the previous month, which was below the 0.48% inflation rate registered in May. June’s print came in below the 0.29% increase that market analysts had expected and mainly reflected that rising prices for housing more than compensated for falling prices for foodstuffs. Annual inflation edged down from 2.9% in May to 2.8% in June. 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 0.21% month-on-month in June (May: +0.48% month-on-month). Annual core inflation inched down from May’s 3.1% to 3.0% in June.

LatinFocus Consensus Forecast participants expect that inflation will close 2014 at 3.3%, 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%.


Author: Teresa Kersting, Economist

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Colombia Inflation June 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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