The price of the dollar in Colombia lost ground this Wednesday, August 14, after the market learned the new inflation figure in the US, which fell by one tenth in July to 2.9% compared to the June figure.
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According to the Colombian Stock Exchange, The US currency closed at an average price of $4,021, that is, it fell 17 pesos compared to the TRM of the day which was $4,038..
The US inflation data for July is the lowest since March 2021, raising expectations that the Federal Reserve (Fed) will decide to start cutting interest rates at its September meeting with a quarter-point reduction.
Dollar
PHOTO: EFE/EL TIEMPO Archive
The US Bureau of Labor Statistics (BLS) reported on Wednesday that consumer prices rose two-tenths of a percent compared to June. Core inflation, a key figure that excludes volatile food and fuel prices, also fell one-tenth of a point year-on-year to 3.2%, and rose two-tenths of a point on a monthly basis..
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US President Joe Biden welcomed the data but regretted that “Prices are still too high: big corporations are raking in record profits and not doing enough to bring prices down”.
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