BOGOTA: Colombia’s inflation rate dropped to its lowest level in nearly four years, potentially bolstering the case of the central bank minority who voted for an interest rate cut last month.
Annual inflation eased to 4.82% in June, marking its lowest level since October 2021, the statistics agency reported on Monday.
The result is below the median forecast of 4.91% of 19 economists surveyed by Bloomberg.
Education costs, restaurants and hotels and transport saw the biggest price increases, while the cost of information and communication fell. Prices rose 0.1% from a month earlier. One measure of core inflation, which excludes volatile food prices, slowed to 4.94%.
At its most recent policy meeting, the central bank’s board voted to keep interest rates at 9.25%. — Bloomberg
