Colombia Inflation February 2016

Colombia

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.

Panelists participating in the LatinFocus Consensus Forecast expect that inflation will close 2016 at 5.0%, which is up 0.1percentage points from last month’s forecast. For 2017, the panel expects inflation to end the year at 3.6%.


Author:, Economist

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Colombia Inflation February 2016

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


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