Colombia Inflation May 2020


Colombia: Inflation plunges to lowest level since June 2014 in May

June 5, 2020

Consumer prices dropped a seasonally-adjusted 0.32% from the last month in May, contrasting April's 0.16% increase and marking the lowest result on record. The fall was largely broad-based, with prices for most subcomponents falling in the wake of plunging demand due to the coronavirus pandemic. Notably, transport prices fall sharply in the month.

Inflation came in at 2.9% in May, down from April’s 3.5%. May's reading marked the lowest inflation rate since June 2014. Meanwhile, the trend was unchanged with annual average inflation coming in at April's 3.7% in May. Lastly, core inflation fell to 2.6% from April’s 3.0%.

FocusEconomics Consensus Forecast panelists expect inflation to end the year at 2.7%, which is down 0.2 percentage points from last month’s forecast. Next year, inflation is seen ending the year at 3.0%.


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Colombia Inflation Chart

Colombia Inflation May 20 20

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

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