Colombia Inflation

Colombia

Colombia: Inflation jumps to over five-year high in February

March 5, 2015

In February, consumer prices rose 1.15% over the previous month, which came in above the 0.64% price increase registered in January and exceeded market analysts’ expectations of a 0.70% rise. February’s reading mainly reflected higher prices for food items and education.

Annual inflation jumped from January’s 3.8% to 4.4% in February, which represented the highest inflation rate since May 2009. As a result, inflation moved above 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 0.59% month-on-month in February (January: +0.49% mom). Annual core inflation remained at January’s 3.6%.

LatinFocus Consensus Forecast participants expect that inflation will close 2015 at 3.3%, which is up 0.1 percentage points 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 February 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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