Colombia: Inflation climbs to over-seven-year-high in January
February 7, 2016
In January, consumer prices in Colombia rose 1.29% over the previous month, which came in above the 0.62% price increase registered in December. January’s result mainly reflected an increase in prices of food, which more than offset a softer increase in prices for education.
Inflation increased from December’s 6.8% to 7.5% in January, thus reaching its highest level since December 2008. 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 price index, which excludes volatile items such as fresh food and fuels, increased in January by 0.82% month-on-month (December: +0.64% mom). Finally, core inflation rose from December’s 5.2% to 5.6% in January.
Author: Eric Denis , Economist