BOGOTA, Oct 23 (Reuters) - Colombian consumer prices should fall in the coming months, central bank board member Jose Antonio Ocampo said on Wednesday, despite analysts’ expectations that inflation could rise.
The bank’s most recent survey showed a slight uptick in inflation predictions, after monthly consumer prices rose more than investors expected in October.
But Ocampo said inflation is set to fall, despite 12-month figures hitting 3.82% last month.
“I don’t see any risk (of rises),” the policymaker told journalists. “Rather in all the bank’s technical models we should start to see a slight reduction in inflation in the coming months.”
Colombia’s central bank board unanimously held its benchmark interest rate steady at 4.25% at its meeting in September and raised its economic growth prediction for the year, taking it closer to the government’s target.
The board looks likely to meet analysts’ expectation that it will hold the rate through the end of 2019. (Reporting by Carlos VargasWriting by Julia Symmes Cobb; Editing by Cynthia Osterman)