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