Colombia: Inflation inches back up in July
August 6, 2014
In July, consumer prices rose 0.15% over the previous month, which came in above the 0.09% price increase registered in June and was broadly in line with market analysts’ expectations of a 0.12% rise. July’s print mainly reflected that higher prices for foodstuff more than compensated for lower prices for leisure activities.
Annual inflation inched up from 2.8% in June to 2.9% in July. Annual inflation remains well anchored within the Central Bank’s tolerance margin of plus/minus 1.0 percentage point around its 3.0% target.
The core inflation index, which excludes volatile items such as fresh food and fuels, dropped 0.08% month-on-month in July (June: +0.21% month-on-month). Annual core inflation inched down from June’s 3.0% to 2.7% in July.