Colombia | Inflation recedes slightly in April on lower utilities rates

April inflation stood at 0.50% MoM, lower than market expectations (BBVAe: 0.59%, Bloomberg: 0.65%). Thus, CPI rose 7.9% in the 12 months through April, down from 8.0% the previous month. The drop in electricity rates (-5.6% Mom) and gas tariffs (-2.6% MoM) largely explain the inflation decline in annual terms.

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