Colombia: Inflation picks up to 17-month high in April
June 6, 2014
In May, consumer prices rose 0.48% over the previous month, which was a marginal increase over the 0.46% inflation rate registered in April. May’s print overshot the 0.29% increase that market analysts had expected and mainly reflected rising prices for leisure and foodstuffs. Annual inflation edged up from 2.7% in April to 2.9% in May, which marked the largest increase since October 2012. Thus annual inflation remains well anchored within the Central Bank’s tolerance margin of plus/minus 1.0 percentage points around its 3.0% target.
The core inflation index, which excludes volatile items such as fresh food and fuels, rose 0.48% month-on-month in May (April: +0.23% month-on-month). Annual core inflation increased from April’s 2.8% to 3.2% in May.