In a surprising display of economic stagnancy, Colombia's Consumer Price Index (CPI) remained unchanged at 7.16% in May 2024, mirroring the previous month's rate, according to the latest data released on June 11, 2024.
This comes after the April 2024 CPI also stabilized at 7.16%, highlighting a trend of inflation persistence over the past two months. The year-over-year comparison reveals that the inflation rate has neither accelerated nor decelerated since April, maintaining its grip on the economy.
Analysts are closely monitoring the stagnant inflation figures as they weigh potential implications for monetary policy and economic growth. With economic indicators showing little movement, it remains to be seen how the Colombian government and the Banco de la República will steer their policy measures in the coming months to curb inflation and stimulate higher growth rates.
