Colombia CPI Inflation Quickens Unexpectedly In July

(RTTNews) - Colombia's consumer price inflation quickened unexpectedly in July, figures from the Colombia National Administrative Department of Statistics, or DANE, showed Wednesday.

The consumer price index grew 4.46 percent year-on-year in July, faster than the 4.42 percent increase in the previous month. Economists had expected 4.36 percent growth for the month. In May, prices had risen 4.41 percent.

Price growth of transportation quickened to 3.80 percent from 3.35 percent and that of communications accelerated to 4.76 percent from 4.20 percent. Health costs increased 4.69 percent, faster than June's 4.52 percent growth.

Price growth of housing quickened to 3.90 percent from 3.59 percent, while that of food products eased to 5.67 percent from 6.20 percent.

Excluding food, core consumer prices grew 3.98 percent year-on-year in July, faster than the 3.72 percent increase in the preceding month.

Month-on-month, consumer prices increased 0.19 percent in July, faster than the 0.10 percent rise in the previous month. Economists had expected 0.1 percent rise for the month.

Core consumer prices increased 0.32 percent month-on-month in July, faster than the previous month's 0.23 percent rise.

For the January to July period, consumer prices increased 3.52 percent, faster than a 2.73 percent rise in the same period of last year. Core inflation quickened to 2.95 percent from 2.24 percent a year ago.