Colombia Inflation

Colombia

Colombia: Inflation inches up in August to highest level in almost two years

September 5, 2014

In August, consumer prices rose 0.20% over the previous month, which came in above both the 0.15% price increase registered in July and market analysts’ expectations of a 0.10% rise. August’s print mainly reflected higher prices for food, housing, and health.

Annual inflation inched up from 2.9% in July to 3.0% in August, which marked the highest point since October 2012. Annual inflation remains well anchored within the Central Bank’s tolerance margin of plus/minus 1.0 percentage point around its 3.0% target.

The core inflation index, which excludes volatile items such as fresh food and fuels, increased 0.22% month-on-month in August (July: -0.08% mom). Annual core inflation inched up from July’s 2.7% to 3.0% in August.

LatinFocus Consensus Forecast participants expect that inflation will close 2014 at 3.3%, which is unchanged from last month’s forecast. For 2015, the panel expects inflation to end the year at 3.1%.


Author: Teresa Kersting, Economist

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Colombia Inflation August 2014

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


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