Colombia Inflation Rate Unexpectedly Drops From 15-Year High
- Prices rose less than all 31 forecasts in a Bloomberg survey
- Central bank has raised interest rates for 8 straight months
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Colombia’s inflation rate unexpectedly fell for the first time since May 2015, led by smaller increases in housing costs.
Consumer prices rose 7.93 percent from a year earlier, less than all 31 analysts in a Bloomberg survey had predicted, whose median forecast was for an increase of 8.12 percent. Inflation has exceed the upper limit of the central bank’s target range for 15 months, and in March reached its highest level since 2001.