Annual inflation climbs to 8.6% in Q2, Colombian inflation report reveals

colombia
Colombia's inflation continues to rise but central bank expects some reduction in H2 of 2016

Annual consumer inflation reached 8.6% in the second quarter of 2016, the latest inflation report from the Central Bank of Colombia shows.

"This behaviour of consumer prices occurred in a context where economic activity continued to be affected by the decline in terms of trade and the subsequent deterioration in national revenue," the report says.

The central bank has an inflation target of 3% and although inflation is noticeably higher, the bank believes annual CPI will "begin to decline"

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