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Colombian inflation accelerated for the first time in 15 months in a setback for the government which wants faster interest rate cuts to revive economic growth, Bloomberg News reported. Consumer prices rose 7.18% in June from a year earlier, the statistics agency said Monday, from 7.16% in May. Prices roses 0.32% from a month earlier, slightly higher than the 0.30% median forecast of 25 analysts surveyed by Bloomberg. One measure of core inflation closely tracked by the central bank, which excludes volatile food prices, slowed to 7.64%% from a year earlier.
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Avianca Group plans to confidentially file for an initial public offering in the U.S., the holding company for the Colombian airline said on Monday, Reuters reported. The Bogota-based airline, with over 100 years of operation since 1919, is moving ahead with its listing more than two years after it emerged from bankruptcy. Avianca — which serves domestic markets of Colombia, Ecuador and Central America — was one of the major Latin American airlines that filed for bankruptcy during the pandemic, hurt by a downturn in travel demand.