Colombia Inflation May 2019

Colombia

Colombia: Inflation remains steady in May

June 5, 2019

Consumer prices rose 0.31% over the previous month in May, following a 0.50% month-on-month increase in April. Notably smaller upturns in the prices for accommodation, water, electricity and gas, and food and non-alcoholic beverages compared to the previous month lessened the overall upswing.

Inflation came in at 3.3% in May, matching April’s print, thus remaining within the Central Bank’s target band of 3.0% plus or minus 1.0 percentage points. Meanwhile, annual average inflation inched up to 3.3% in May from 3.2% in April.

Core consumer prices, which exclude volatile items including fresh food and fruit, rose 0.4% over the previous month in April—the latest month for which data is available—following a 0.3% month-on-month upturn in February. Lastly, core inflation edged up to 3.3% in April from 3.1% in March.

Panelists participating in the LatinFocus Consensus Forecast expect that inflation will end 2019 at 3.3%, which is unchanged from last month’s forecast. The panel expects inflation to end 2020 at 3.2%.


Author:, Economist

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Colombia Inflation May 2019

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


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