‘It is not a good symptom’: reactions to the increase in annual inflation in July

Inflation began to give in. According to the latest report from the National Administrative Department of Statistics (DANE), The annual variation of the indicator in July was 4.90%, Data that although it is less than the 6.86% that had a year ago, exceeded 4.82% obtained in June.

(Read more: Annual inflation yielded to the pressures and showed mixed data in July: it was 4.90%)

The Dane report shows that the Consumer Price Index (CPI)which measures the behavior of this phenomenon, was largely driven by the components of restaurants and hotels (7.59%), education (7.56%), transport and health (both with 5.36%).

Meanwhile, annual inflations were observed in recreation and culture (2.10%), clothing and footwear (1.72%) and information and communication, which even showed a fall of -1.10%.

Given this result, which highlighted the pressure that is exerting essential services on inflation, From different fronts have been issued pronouncements.

Among the voices that have shared their opinion is that of María Claudia Lacouture, president of the Colombian Chamber of Commerce (Amcham Colombia). The union leader said that this course that could take the CPI was avoidable.

“In July (inflation) rose 0.28 %, they rebound 0.8 pp compared to 2024, driven by rise in food by strikes that slow production, make prices more expensive and generate lost millionaires,” Lacouture said.

The president of Amcham Colombia also pointed out that, in that scenario, The government has to act with measures oriented to lift blockages, guarantee supply and comply with the producers so that inflation hit the pocket of Colombians.

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Along the same line, the former Minister of Finance, José Manuel Restrepo, said that the increase in the annual variation, although light, It is not a good symptom and that it is necessary to correct the tax scenario.

Restrepo also highlighted the act of the issuer, By maintaining its intervention rate without adjustments To allow inflation to begin to increase.

“The Bank of the Republic has acted in the right way stopping or slowing down the decrease in monetary policy interest rates and the government must correct fiscal management to give space to inflation not to return,” The former Minister mentioned.

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