Colombia: Inflation remains stable in January
February 5, 2019
According to the National Department of Administrative Statistics (DANE), consumer prices rose 0.60% over the previous month in January, following a 0.30% month-on-month upturn in December. Prices for information and communication increase by the biggest magnitude, while clothing and footwear was the only category to see a fall in prices.
Inflation remained stable at 3.2% in January, matching December’s print. Thus, it remained within the Central Bank’s target range of 3.0% plus or minus 1.0 percentage points.
In December—the latest month for which data is available—, core consumer prices—which exclude volatile items including fresh food and fruit—rose 0.3% over the previous month, following a 0.2% month-on-month rise in October. Meanwhile, core inflation edged down to 3.2% in November, from 3.6% in October.
Author: Nihad Ahmed, Economist