Colombia: Inflation falls for fourth consecutive month in November
December 5, 2016
In November, consumer prices in Colombia rose 0.11% from the previous month. The reading contrasted the 0.06% drop recorded in October, and came close to market expectations of a 0.12% rise. According to Colombia’s National Statistics Institute (DANE), November’s print mainly reflected slightly higher food prices, which carry the largest weight in the consumer price index.
Inflation reached an all-time high of 9.0% in July and began to fall in August. It continued to fall from 6.5% in October to 6.0% in November, which is the lowest reading so far this year. However, inflation is still well above the Central Bank’s tolerance margin of plus/minus 1.0 percentage point around its 3.0% target.
Core consumer prices, which exclude volatile items such as fresh food and fuels, increased 0.29% from the previous month in November, above the 0.22% rise in October. Finally, core inflation inched down from October’s 6.6% to 6.3% in November.
Author: Luis Lopez Vivas, Economist