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.