Inflation in Colombia
Colombia - Inflation
Inflation rises in May
Consumer prices increased 1.00% in May over the previous month, picking up from April’s 0.59% rise. May’s upturn was largely attributed to higher prices for food and non-alcoholic beverages.
Inflation accelerated to 3.3% in May, following April’s 2.0% increase marking the highest reading in over a year and landing above the midpoint of the Bank’s 2.0–4.0% target range. Annual average inflation remained stable at April’s 1.9%. Lastly, core inflation came in at 2.8% in May from the previous month’s 2.0% increase.
Commenting on the inflation outlook, Sergio Olarte and Jackeline Piraján, economists at Scotiabank, said:
“Inflation is normalizing at a somewhat faster pace than generally expected since traditional indexation rules have been re-imposed on some regulated prices and increased domestic demand has pushed up key prices for some services and rents. We project inflation to exceed the BanRep’s 3% y/y target sooner than previously expected.”
FocusEconomics Consensus Forecast panelists project inflation to end 2021 at 3.0%, which is up 0.2 percentage points from last month’s forecast. In 2022, inflation is seen ending the year at 3.2%.
Colombia - Inflation Data
|Inflation Rate (CPI, annual variation in %)||5.0||7.5||4.3||3.2||3.5|
5 years of economic forecasts for more than 30 economic indicators.
Colombia Inflation Chart
Source: Statistical Institute (DANE).
|Bond Yield||6.08||0.0 %||Dec 30|
|Exchange Rate||3,287||-0.17 %||Jan 01|
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June 15, 2021
Industrial output grew at a record-breaking rate of 63.7% year-on-year in April (March: +20.8% yoy), largely on a supportive base effect.
June 8, 2021
The Fedesarrollo consumer confidence index came in at minus 34.3 in May, deteriorating marginally from April’s minus 34.2.
June 4, 2021
Consumer prices increased 1.00% in May over the previous month, picking up from April’s 0.59% rise.
June 1, 2021
The IHS Markit Manufacturing Purchasing Managers’ Index (PMI) came in at 46.7 in May, down from April's 54.0.
May 28, 2021
Merchandise exports soared in April, expanding 56.3% on an annual basis, coming well above March’s 36.4% jump, logging the best result in over 12 years.