Colombia: Inflation falls in April as the upward pressure from food prices eases
May 6, 2011
In April, consumer prices increased 0.12% over the previous month, down from the 0.27% increase observed in March. The monthly price rise mainly reflected higher prices for transport as well as for housing. On the other hand, food prices, which represent the largest weight in the calculation of the consumer price index, remained virtually flat in April (-0.04% month-on-month). Annual headline inflation dropped from 3.2% in March to 2.8% in April. The core inflation index, which excludes more volatile items such as fresh food and fuels, increased 0.14% month-on-month in April and annual core inflation eased to 3.0% for the first time in six months. Currently, inflation remains within the 1.0 percentage point tolerance margin of the Central Bank's 3.0% target.