In January, consumer prices added 0.91% over the previous month, accelerating from the 0.65% rise observed in December and came in above/below market expectations of a -.--% increase. Increasing transport prices (+1.73% month-on-month) and food prices (+1.61% mom) were the main drivers behind the monthly price rise. As a result, annual headline inflation stepped up from 3.2% in December to 3.4% in January. The core inflation index, which excludes more volatile items such as fresh food and fuels added -.--% in January, pushing annual core inflation from 3.2% in December to -.-% in January. At its monetary policy meeting held on 31 January, the Central Bank left the reference interest rate unchanged at a historic low of 3.00%. This is the ninth consecutive month the policy rate has not been altered. However, accelerating inflation may soon prompt monetary authorities to raise interest rates in the near future. Currently, inflation remains within 1.0 percentage point tolerance margin of the Central Bank's 3.0% target.
Inflation accelerates in January
February 7, 2011
Looking for forecasts related to Inflation in Colombia? Download a sample report now.
Colombia Economic News
October 7, 2016
In what was a narrow and shocking result, Colombians rejected the peace agreement between the government and the FARC at the 2 October referendum.
September 30, 2016
In August, exports grew 7.0% over the same month last year, which sharply contrasted the 27.3% plunge recorded in July.
September 30, 2016
The seven-member board of the Central Bank (BanRep) unanimously decided to keep the reference interest rate unchanged at 7.75% at its 30 September monetary policy meeting.
September 16, 2016
Industrial production unexpectedly shrank 6.2% annually in July, which contrasted the 6.7% increase seen in June.
September 5, 2016
The Colombian economy continues to adjust to low oil prices two years after they first started to collapse.