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Colombian Finance Minister Juan Carlos Echeverry said inflation will slow toward the government’s 3 percent target this year even after consumer prices rose faster than expected last month.
Consumer prices rose 0.3 percent in May, the statistics agency said yesterday, more than the 0.2 percent median forecast of 30 economists surveyed by Bloomberg. The result put the annual rate at 3.44 percent.
Inflation is at “a reasonable level,” Echeverry told reporters in Bogota yesterday after a hearing with lawmakers. “We think inflation will slow toward 3 percent during the rest of the year.”
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