- Luz A. Florez
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- Bancos centrales; Crecimiento interno; Macroeconomía; Finanzas; Colombia; E31 - Price Level; Inflation; Deflation; E39 - Prices, Business Fluctuations, and Cycles: Other; E30 - Prices, Business Fluctuations, and Cycles: General; Central banks; Internal growth; Macroeconomics; Finances; Banco de la República (Bogotá) -- 2007 -- Informes; Inflación -- Colombia -- 2007 -- Informes; Balanza de pagos -- Colombia -- 2007 -- Informes; Mercado financiero -- Colombia -- 2007 -- Informes; E31 - Nivel de precios; Inflación; Deflación; E39 - Precios, fluctuaciones y ciclos económicos: Otros; E30 - Precios, fluctuaciones y ciclos económicos: Generalidades
Annual consumer inflation began to decline again during the second quarter of 2007, as was forecast. By June, it was 6.0%, which is similar to the rate in March and 22 basis points (bp) below the high point registered in April. Annual inflation had increased steadily between October 2006 and April of this year, propelled largely by higher food prices and by major adjustments in fuel prices and fares for public transportation. However, as expected, some of these pressures began to subside in May, allowing for the reduction in inflation. The various core inflation indicators, which usually filter temporary price shocks, also showed a break in trend as of May. They had climbed almost continuously since mid-2006, exceeding the target range set by the Board of Directors of Banco de la República (JDBR) for this year. However, annual non-food inflation was 4.4% in June, which marks a return to the target range.