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%.