Colombia Inflation


Colombia: Inflation moderates from nearly two-year high

October 4, 2014

In September, consumer prices rose 0.14% over the previous month, which came in below the 0.20% price increase registered in August and market analysts’ expectations of a 0.22% rise. September’s print mainly reflected higher prices for housing, foodstuff and education.

Annual inflation inched down from 3.0% in August, which had marked the highest rate since October 2012, to 2.9% in September. Annual inflation remains well anchored 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 0.12% month-on-month in September (August: +0.22% mom). Annual core inflation inched down from August’s 3.0% to 2.9%.

LatinFocus Consensus Forecast participants expect that inflation will close 2014 at 3.3%, which is unchanged from last month’s forecast. For 2015, the panel expects inflation to end the year at 3.2%.

Author: Teresa Kersting, Economist

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Colombia Inflation Chart

Colombia Inflation September 2014

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

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