Colombia Inflation October 2021

Colombia

Colombia: Inflation inches up in October

November 5, 2021

Consumer prices rose 0.02% in October over the previous month, cooling from September 0.38% increase and logging the lowest print in four months. October’s result largely reflected softer price pressures for household and utilities.

Meanwhile, inflation inched up to 4.6% in October, up from September’s 4.5%, moving further above from the Central Bank’s upper bound of the 2.0%–4.0% target range. Thus, the trend pointed up, with annual average inflation rising to 2.9% in October (September: 2.6%). Lastly, core inflation cooled to 3.8% in September, the latest month for which data is available, from 3.9% in August.

FocusEconomics Consensus Forecast panelists project inflation to end 2022 at 3.5%, which is up 0.1 percentage points from last month’s forecast. In 2023, inflation is seen ending the year at 3.2%.


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Colombia Inflation October 2021

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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