Colombia Inflation

Colombia

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%.

LatinFocus Consensus Forecast participants expect that inflation will close 2015 at 3.2%, which is unchanged from last month’s forecast. For 2016, the panel expects inflation to end the year at 3.0%.


Author: Teresa Kersting, Economist

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Colombia Inflation Chart


Colombia Inflation January 2015

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


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