Colombia: Inflation inches up to over three-year high in January
February 6, 2015
In January, consumer prices rose 0.64% over the previous month, which came in above the 0.27% price increase registered in December and exceeded market analysts’ expectations of a 0.53% rise. January’s reading mainly reflected higher prices for food items and transport.
Annual inflation inched up from December’s 3.7% to 3.8% in January, which represented the highest inflation rate since November 2011. As a result, despite the acceleration, inflation still remains 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 0.49% month-on-month in January (December: +0.66% month-on-month). Annual core inflation remained at December’s 3.0%.