Colombia | Inflation in August stood at 4.44%.

Summary

Inflation in August had a monthly variation of 0.45% and stood at 4.44% in annual terms. Foodstuffs continue to be the protagonists in recent increases, although price increases in other goods and services that are highly dependent on the exchange rate.

Key points

• Key points:
• Inflation in August was slightly higher than anticipated by BBVA (0.38%) but surprised market expectations for the fourth consecutive month (0.19%).
• Food, especially animal proteins and processed foods, continue to drive up inflation due to higher input costs.
• Exchange rate devaluation, higher global trade costs and some local bottlenecks will continue to put upward pressure on inflation.
• The upward surprise of the August inflation data adds pressure on the Central Bank to begin its rate hike cycle.

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