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.
Author: Nihad Ahmed, Economist