Inflation in Colombia did not subside in June, reaching an all-time high

BOGOTA – The National Administrative Statistics Service (Danish) reported this Tuesday that Inflation resumed its upward trend in June and settled at 9.67% annually, the highest variance since June 2000 when the index registered an annual growth of 9.68%.

notwithstanding the foregoing, The change in inflation in June of this year was in line with the average expected by the market for that month (9.70%).according to a Citi poll.

Regarding the monthly change of inflation in June, Dane’s director, Juan Daniel Oviedo, explained that It was 0.51%, the highest reported in one of these months in 18 years. Similarly, Oviedo explained that the second highest monthly inflation rate in recent years was that recorded in June 2016 (0.48%) amid a national strike.

It is important to mention that In the monthly variance, for the first time in several months, the most contributing component was rent and utilities, rather than food. The first line contributed 0.17 percentage points to monthly inflation, while the second line contributed 0.12 percentage points. The third most contributory component was restaurants and hotels, with a rate of 0.11 points per second.

On the contrary, The only spending divisions that contributed negatively to monthly inflation were two, mainly due to the day without VAT: Clothes and shoes with -0.09 points per second, information and communication with -0.01 points per second.

However, that must be said When reviewing annual variance data, food remains the single most significant contributor to inflation in the country. This contributed 3.98 points per second to the total data, followed by leases and public services (1.92 points per second) and restaurants and hotels (1.47 points per second).

News under development…