Colombia Inflation

Colombia

Colombia: Inflation climbs in October

November 9, 2015

In October, consumer prices rose 0.68% over the previous month, which came in slightly below the 0.72% price increase registered in September. The reading overshot market analysts’ expectations of a 0.40% rise. October’s moderation mainly reflected a softer increase in food prices.

Inflation increased from September’s 5.4% to 5.9% in October, thus reaching its highest level since March 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 in October by 0.36% month-on-month (September: +0.55% month-on-month). Finally, core inflation inched up from September’s 4.7% to 4.9% in October.

Panelists participating in the LatinFocus Consensus Forecast expect that inflation will close 2015 at 5.0%, which is up 0.1 percentage points from last month’s forecast. For 2016, the panel expects inflation to end the year at 3.6%, which is unchanged from last month’s estimate.


Author:, Economist

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Colombia Inflation October 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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