Colombia: Inflation rises in August
September 7, 2018
According to the National Department of Administrative Statistics (DANE), consumer prices rose 0.12% over the previous month in August, contrasting a 0.13% month-on-month drop in July. Seven out of the nine recorded higher prices, while the remaining two registered a decline in prices. House prices rose the most, while prices for entertainment fell by the biggest magnitude.
Inflation in August remained at July’s 3.1%, thus remaining within the Central Bank’s target band of 3.0% plus or minus 1.0%.
In July—the latest month for which data is available—core consumer prices, which exclude volatile items including food and fuel, remained stable from the previous month following a 0.15% month-on-month rise. Meanwhile, core inflation fell in July remained at June’s 3.6%.
Colombia Inflation Forecast
Panelists participating in the LatinFocus Consensus Forecast expect that inflation will end 2018 at 3.3%, which is unchanged from last month’s forecast. For 2019, the panel also expects inflation to end the year at 3.3%.
Author: Nihad Ahmed, Economist