Colombia: Colombia s May inflation hits 15 year high
In May, Colombia’s inflation rate hit 8.2%, the highest it has been since 2001, when rates reached 8.49%. According to the country’s statistics agency, food costs spiked a staggering 13.46% compared to a year ago.
The prices of some vegetables have soared to 66.9% in the last twelve months, like potatoes that rose by 53.3%.
The inflation, particularly of products necessary to survive, has hit Colombia’s poor and working class hardest.
Analysts consulted by Bloomberg News attributed the high inflation to the weakening peso, which pushes up prices of imported food produce like potatoes.
The peso lost almost 40% of its value since mid 2014 due to the global collapse of the price of crude oil prices, Colombia’s largest export product.
Source: colombiareports.com
Fuente: http://www.freshplaza.com/article/158947/Colombias-May-inflation-hits-15-year-high
