Colombia Inflation


Inflation inches up in August

In August, consumer prices rose 0.48% over the previous month, which came in above the 0.19% price increase registered in July. The reading overshot market analysts’ expectations of a 0.20% rise and marked a four-month high. August’s reading mainly reflected higher prices for food products and transport.

Inflation inched up from July’s 4.5% to 4.7% in August, thus reaching its highest level since May 2009. As a result, inflation moved further above the Central Bank’s tolerance margin of plus/minus 1.0 percentage point around its 3.0% target.

The core consumer prices index, which excludes volatile items such as fresh food and fuels, rose by 0.30% month-on-month in August (July: -0.12% month-on-month). Finally, core inflation inched up from July’s 4.2% to 4.3% in August.

LatinFocus Consensus Forecast participants expect that inflation will close 2015 at 4.0%, which is unchanged from last month’s forecast. For 2016, the panel expects inflation to end the year at 3.2%.

Author:, Economist

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Colombia Inflation Chart

Colombia Inflation August 2015

Note: Year-on-year and month-on-month variation of cons. price index in %.
Source: Colombia National Statistical Institute (DANE).

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