Colombia: Inflation inches down in July
August 4, 2018
According to the National Department of Administrative Statistics (DANE), consumer prices fell 0.13% over the previous month in July, contrasting a 0.15% month-on-month rise in June. Prices declined in four out of the nine components, while increasing in the remaining five. Communications recorded the biggest drop in prices, while housing registered the largest upturn in prices.
Inflation inched down to 3.1% in July from 3.2% in June, thus remaining within the Central Bank’s target band of 3.0% plus or minus 1.0%.
In June—the latest month for which data is available—core consumer prices, which exclude volatile items including fresh food and fruit, rose 0.15% after increasing 0.25% in May (previously reported: 0.27%). Meanwhile, core inflation fell to 3.6% in June, down from 3.8% in May.
Colombia Inflation July 2018
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: Nihad Ahmed, Economist