LatinNews Daily - 06 July 2022

In brief: Inflation continues to climb in Colombia

*Colombia’s national statistics department (Dane) has published its latest inflation figures which show that monthly inflation in June was 0.51%, bringing the accumulated rate for the year to 7.09%, and the annual rate to 9.67%. This is up from an annual rate of 9.07% in May. The main drivers of monthly inflation in June were: restaurants & hotels (1.06%); furniture & household items (0.96%); and transport (0.76%). In response to rising inflation, last week Colombia’s central bank (Banrep) raised interest rates by 150 basis points to 7.5%.

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