Colombia Inflation

Colombia

Colombia: Inflation inches up in July

August 5, 2015

In July, consumer prices rose 0.19% over the previous month, which came in above the 0.10% price increase registered in June. The reading slightly overshot market analysts’ expectations of a 0.10% rise. July’s reading mainly reflected higher prices for housing and communication.

Inflation inched up from June’s 4.4% to 4.5% in July, thus reaching a three-month high. As a result, inflation moved further above the Central Bank’s tolerance margin of plus/minus 1.0 percentage point around its 3.0% target.

The core consumer prices index, which excludes volatile items such as fresh food and fuels, fell by 0.12% month-on-month in July, which marked its lowest value since August 2011 (June: +0.37% month-on-month). Finally, core inflation remained stable at June’s 4.2% in July.

LatinFocus Consensus Forecast participants expect that inflation will close 2015 at 3.9%, which is unchanged from last month’s forecast. For 2016, the panel expects inflation to end the year at 3.1%.


Author:, Economist

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