Colombia| Inflation increase in April is transitory

Summary

April's inflation was the highest figure for the year but we believe it is a transitory increase and that at the end of the year it will return to the Bank of the Republic's target of 3% per year. Inflation recently published for April surprised the rise and stood at 0.5% per month above expectations.

Key points

• Key points:
• The upward surprise was largely due to food inflation
• We consider that climatic factors and the effect of Holy Week caused a lower production and collection of food
• For next months we expect food inflation to continue with an upward trend

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