Colombia inflation latest publications
In July, inflation reached a double-digit annual variation of 10.21% and a monthly variation of 0.81%, above analysts' expectations (average monthly variation of 0.53% according to Banco de la República's survey) and BBVA Research.
July 29, 2022
Colombia | BanRep subió su tasa de política monetaria al 9,0%. Con votación dividida 6 a 1
En su reunión de julio, el Banco de la República incrementó la tasa de política monetaria en 150 puntos básicos (pb), llevándola al 9,0%. La decisión fue dividida,con un voto a favor de un incremento de 100 pb.
In June, monthly inflation was 0.51% and 9.67% year-on-year, in line with market analysts' and BBVA Research's expectations. Core inflation (excluding food) stood at 6.84% in annual change, accelerating 34 bps from the previous month's result.
In May, monthly inflation was 0.84% and annual inflation was 9.07%, close to the expectations of market analysts and BBVA Research (0.80% monthly change).
Inflation in April was 1.25% on a monthly basis and 9.23% on an annual basis, making it the highest in the last two decades. Market analysts were surprised by the result, which was not only above the estimated average, but also above the maximum of the range of expectations recorded in the BanRep survey.
March monthly inflation was 1.0%, more than double its historical average (0.41% average between 2011-2019) and annual inflation was 8.53%, placing it above analysts' expectations (0.90% monthly according to the BanRep survey) and BBVA Research's projection (0.84%).
Inflation surprised once again the average consensus of market analysts with an increase of 1.63% in the monthly variation and 8.01% in the annual comparison. Core inflation stood at 1.28%, being the highest monthly variation for February in the last decade, even above that of 2016, a year of a historic living cost rise.
Inflation started the year with an upward surprise with a monthly print of 1.67% for January and annual change of 6.94% above market expectations. Monthly core prices increased by 1.21%, with an annual variation of 4.47%, also showing a surprise against analysts' expectations.