Colombia: Inflation remains steady in June
July 5, 2018
According to the National Department of Administrative Statistics (DANE), consumer prices rose 0.15% over the previous month in June, a smaller rise than the 0.25% month-on-month increase in May. There was an across-the-board rise in prices, with communications recording the biggest upturn in prices and education seeing the smallest rise.
Inflation in June remained at May’s 3.2%. Consequently, it remained within the Central Bank’s target band of 3.0% plus or minus 1.0%.
In May—the latest month for which data is available—core consumer prices, which exclude volatile items including fresh food and fruit, ticked up 0.27%, following a revised 0.22% increase in April (previously reported: 0.00%). Meanwhile, core inflation rose to 3.8% in May after dropping to a revised 3.7% in April (previously reported: 3.8%).
Colombia Inflation Forecast
Panelists participating in the LatinFocus Consensus Forecast expect that inflation will end 2018 at 3.3%, which is unchanged from last month’s forecast. For 2019, the panel also expects inflation to end the year at 3.3%.
Author: Nihad Ahmed, Economist