Inflation in Colombia is predicted to end the year at 3% according to the Central Bank, while unemployment will remain at similar levels to the end of 2009, reported Portfolio.
Central Bank chief Jose Dario Uribe told an economic affairs committee Wednesday that the bank’s official target for 2010 was between 2% and 4%.
“Data from the last six weeks has been more positive than we expected and we expect to be in that range,” Uribe said.
Last year’s annual inflation was at a 54-year low of 2% as domestic consumption was down and the strengthened peso brought down the price of imported goods.
The Colombian government set a growth target of 2.5% for this year, below the average for Latin America.
Uribe said that this was justified by the trade sanctions implemented by Venezuela and the strong trade that other nations in the region have developed with Asia.