Colombia Inflation January 2019

Colombia

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 food and fuel—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.

Panelists participating in the LatinFocus Consensus Forecast expect that inflation will end 2019 at 3.5%, which is unchanged from last month’s forecast. For 2020, the panel also expects inflation to end the year at 3.3%.


Author:, Economist

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Colombia Inflation January 2019

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


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