LatAm Daily | In Colombia, inflation rose in May and GDP increased in 1Q16 at lower levels

Summary

As we expected, CPI rose by 0.51% MoM in May (8.2% YoY), the highest level in 15 years as a consequence of the rise in electricity tariffs, while food inflation was low. We expect inflation to decrease in the coming months. GDP in 1Q16 decelerated (2.5% YoY) gradually with respect to last year’s GDP. Moreover, exports did not show any recovery; they fell by 24.8% in April.

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