Colombia: Inflation inches down in July
According to the National Department of Administrative Statistics (DANE), consumer prices fell 0.13% over the previous month in July, contrasting a 0.15% month-on-month rise in June. Prices declined in four out of the nine components, while increasing in the remaining five. Communications recorded the biggest drop in prices, while housing registered the largest upturn in prices.
Inflation inched down to 3.1% in July from 3.2% in June, thus remaining within the Central Bank’s target band of 3.0% plus or minus 1.0%.
In June—the latest month for which data is available—core consumer prices, which exclude volatile items including food and fuel, rose 0.15% after increasing 0.25% in May (previously reported: 0.27%). Meanwhile, core inflation fell to 3.6% in June, down from 3.8% in May.