Colombia Inflation April 2022

Colombia

Colombia: Inflation rises to near 22-year high in April

May 5, 2022

Consumer prices rose 1.25% in April over the previous month, accelerating from March's 1.00% increase. The acceleration was largely due to prices for housing and utilities rising at a brisker pace.

Inflation increased to 9.2% in April, above March’s 8.5%, thus moving further above the Central Bank’s 2.0–4.0% target range. April's reading marked the highest inflation rate since July 2000. Accordingly, annual average inflation rose to 5.7% in April (March: 5.1%). Lastly, core inflation rose to 7.7% in April, from March’s 6.9%.

FocusEconomics Consensus Forecast panelists project inflation to end 2022 at 6.6%, which is up 1.0 percentage point from last month’s forecast. In 2023, inflation is seen ending the year at 3.9%.


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Colombia Inflation April 2022

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


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