Colombia’s inflation rate for May stands at 5.05%, lower than expectations. The DANE agency reports a 0.32% rise in consumer prices, below the predicted 0.40%. Analysts raised their inflation forecast to 4.8% for the year, missing the central target of 3% again. Housing and food prices drove inflation, while recreation costs declined.
Colombia’s inflation rate for the 12 months ending in May hit 5.05%, as reported by the DANE statistics agency. This comes after a reported monthly consumer price index increase of 0.32%. Notably, this figure is lower than market expectations, which had predicted a 0.40% rise in monthly prices and an annual rate of 5.13%.
In summary, Colombia’s 12-month inflation remains above the central bank’s target for the fifth consecutive year despite a slight reduction in the month-to-month increase. Analysts have adjusted their forecasts upward for the end of the year, indicating ongoing economic challenges. Key contributors to inflation include housing costs and food prices; however, recreation costs saw a notable decline.
Original Source: www.tradingview.com
