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UPDATE 1-Colombia inflation dips to 0.12 pct in June-govt

Sun Jul 1, 2007 1:30pm EDT

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BOGOTA, July 1 (Reuters) - Colombian consumer prices rose 0.12 percent in June compared with 0.30 percent registered in the same month a year earlier in the lowest monthly inflation since June 2003, the government said on Sunday.

But for the first six months of this year, inflation was at 4.55 percent, just above the government's target range for the full year of between 3.5 percent to 4.5 percent, the government's National Department of Statistics said in a statement.

Annual inflation for the last 12 months was 6.03 percent versus 3.94 percent in the same period a year earlier.

The monthly June figure fell below the average forecast of 0.2 percent in a Reuters poll of analysts last week.

Colombia's central bank has repeatedly hiked its key interest rate in an attempt to curb inflationary pressures as the country's economy grows rapidly driven by domestic demand and foreign investment.



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