Colombia Inflation August 2020


Colombia: Inflation eases to over six-year low in August

September 5, 2020

Consumer prices dipped 0.01% over the previous month in August, after they were unchanged in July. August’s slip was driven by declining prices for education, clothing and footwear, and food and non-alcoholic beverages.

Meanwhile, inflation eased to 1.9% in August (July: 2.0%), marking the lowest reading since December 2013 and falling below the Central Bank’s target range of 3.0% plus or minus 1.0 percentage point. Annual average inflation edged down to 3.2% (July: 3.4%). Lastly, core inflation held steady at July’s 2.3% in August.

FocusEconomics Consensus Forecast panelists expect inflation to end the year at 2.1%, which is down 0.6 percentage points from last month’s forecast. Next year, inflation is seen ending the year at 2.9%.


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Colombia Inflation Chart

Colombia Inflation August 20 20 0

Note: Year-on-year and month-on-month changes of the consumer price index in %.
Source: Colombia National Statistics Institute (DANE).

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