Colombia: Inflation edges up in May
June 5, 2018
According to the National Department of Administrative Statistics (DANE), consumer prices increased 0.25% over the previous month in May, a softer upturn compared to the 0.46% rise in April. Three out of the nine sub-components recorded sharper price increases from the previous month, two recorded softer price increases, one came in flat, and two registered a fall in prices. Prices for entertainment increased the most, while prices for clothing and communications declined.
Inflation ticked up to 3.2% in May from 3.1% in April. Consequently, it remained within the Central Bank’s target band of 3.0% plus or minus 1.0%.
Core consumer prices—which exclude volatile items including fresh food and fruit—ticked up 0.27% in May, following a revised 0.22% increase in April (previously reported: 0.0%). Meanwhile, core inflation rose to 3.8% in May after dropping to a revised 3.7% in April (previously reported: 3.8%).
Author: Lindsey Ice, Economist