Colombia: Inflation inches up to over-seven-year-high in February
March 7, 2016
In February, consumer prices rose 1.28% over the previous month, which was virtually stable compared to the 1.29% price increase registered in January. February’s result mainly reflected an increase in prices of education, which offset a softer increase in prices for communication.
Inflation increased from January’s 7.5% to 7.6% in February, thus reaching its highest level since December 2008. As a result, inflation moved further above the Central Bank’s tolerance margin of plus/minus 1.0 percentage point around its 3.0% target.
The core consumer price index, which excludes volatile items such as fresh food and fuels, increased in February by 1.25% month-on-month (January: +0.82% mom). Finally, core inflation rose from January’s 5.6% to 6.3% in February.
Author: Eric Denis , Economist