According to Dane, in May, the annual variation of the Consumer Price Index (CPI) was 12.36%, while the monthly variation was 0.43%.
El Dane reported that the cost of living in Colombia for May had a monthly increase of 0.43% and continued the deceleration trend that began in April. In this order of ideas, the year-on-year variation was 12.36%.
On the other hand, food had a negative variation of 0.17%, after having been the one that most affected the indicator. “When we contrast with what was happening in the previous year, we see a reduction in the monthly variation of almost half of the levels, we see a slight decrease in the current year compared to January – May of last year and we see an increase in the annual variation compared to what we reported last year”, said Piedad Urdinola, director of Dane.
“Inflation in May was 12.36%, lower than the expectation in the financial opinion survey (12.6%). It is very good data, which confirms that inflation in Colombia peaked in March and that, in the absence of additional shocks, it will continue to decline in the coming months.” said Luis Fernando Mejía, director of Fedesarrollo.
Inflation data in Colombia show a new reduction in prices, which gives a new break to the pocket of Colombians.