Colombia Inflation April 2019

Colombia

Colombia: Inflation inches up in April

May 6, 2019

Consumer prices rose 0.50% over the previous month in April, following a 0.43% month-on-month increase in March. Higher prices for food and non-alcoholic beverages led the upturn. Increased costs for housing and utilities, and restaurants and hotels, were also significant contributors to the print.

Inflation inched up to 3.3% in April, from 3.2% in March, remaining within the Central Bank’s target band of 3.0% plus or minus 1.0 percentage points. Higher food and fuel costs, coupled with a weaker peso, have pushed up price pressures.

Meanwhile, core consumer prices, which exclude volatile items including food and fuel, rose 0.3% over the previous month in March—the latest month for which data is available—following a 0.7% month-on-month upturn in February. Lastly, core inflation remained at 3.1% in March.

Panelists participating in the LatinFocus Consensus Forecast expect that inflation will end 2019 at 3.3%, which is down 0.1 percentage points from last month’s forecast. The panel expects inflation to end 2020 at 3.2%.


Author:, Economist

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Colombia Inflation April 2019

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


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