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
| 2015 | 2016 | 2017 | 2018 | 2019 | |
|---|---|---|---|---|---|
| Inflation Rate (CPI, annual variation in %) | 5.0 | 7.5 | 4.3 | 3.2 | 3.5 |
Colombia Inflation Chart
Source: Statistical Institute (DANE).
Colombia Facts
| Value | Change | Date | |
|---|---|---|---|
| Bond Yield | 6.08 | 0.0 % | Dec 30 |
| Exchange Rate | 3,287 | -0.17 % | Jan 01 |
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Economic News
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Colombia: Industrial output logs stellar growth in April
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.
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Colombia: Consumers turn more pessimistic in May
June 8, 2021
The Fedesarrollo consumer confidence index came in at minus 34.3 in May, deteriorating marginally from April’s minus 34.2.
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Colombia: Inflation rises in May
June 4, 2021
Consumer prices increased 1.00% in May over the previous month, picking up from April’s 0.59% rise.
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Colombia: Manufacturing PMI returns to contractionary terrain in May
June 1, 2021
The IHS Markit Manufacturing Purchasing Managers’ Index (PMI) came in at 46.7 in May, down from April's 54.0.
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Colombia: Exports soar to over 12-year high in April
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.
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