Colombia: Inflation quickens to fastest pace in 27 months
October 6, 2011
In September, consumer prices increased 0.31% over the previous month, contrasting the 0.04% decline observed in August and exceeding market expectations of a modest 0.02% rise. The monthly increase mainly reflected higher prices in the housing and food categories. Annual headline inflation increased from 3.3% in August to 3.7% in September, the fastest pace since June 2009. The core inflation index, which excludes volatile items such as fresh food and fuels, rose 0.28% month-on-month in September, pushing annual core inflation up to 3.4% from 3.2% in August, which is still within the Central Bank's target of 3.0%, with a 1.0 percentage point tolerance margin.