Colombia Inflation May 2018

Colombia

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%).

Panelists participating in the LatinFocus Consensus Forecast expect that inflation will end 2018 at 3.3%, which is unchanged from last month’s forecast. For 2019, the panel also expects inflation to end the year at 3.3%.


Author:, Economist

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Colombia Inflation May 2018

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


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