Colombia Inflation March 2018


Colombia: Inflation drops to the lowest level in two-and-a-half years in March

April 5, 2018

According to the National Department of Administrative Statistics (DANE), consumer prices rose 0.24% over the previous month in March, after increasing 0.71% in month-on-month terms in February. Six out of the nine sub-components recorded higher prices from the previous month, one came in flat, and the remaining two registered a decline in prices. The decline from the previous month was largely due to a sharp drop in the prices for education.

Inflation edged down from 3.4% in February to 3.1% in March—the lowest since September 2014. It remains within the Central Bank’s target band of 3.0% plus or minus 1.0%.

In March, core consumer prices—which exclude volatile items including food and fuel—rose 0.3% over the previous month. This followed a 0.7% month-on-month jump in core consumer prices in February. Core inflation fell to a nearly three-year low of 4.0% in March from 4.3% in February.

Panelists participating in the LatinFocus Consensus Forecast expect that inflation will end 2018 at 3.4%, which is unchanged from last month’s forecast. For 2019, the panel expects inflation to end the year at 3.2%.


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Colombia Inflation Chart

Colombia Inflation March 2018

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

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