Colombia Inflation

Colombia

Colombia: Inflation rises to over five-year high in March

April 4, 2015

In March, consumer prices rose 0.59% over the previous month, which came in below the 1.15% price increase registered in February and market analysts’ expectations of a 0.63% rise. March’s reading mainly reflected higher prices for food items and housing.

Inflation inched up from February’s 4.4% to 4.6% in March, which represented the highest inflation rate since May 2009. As a result, inflation moved further above 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 0.32% month-on-month in March (February: +0.59% mom). Annual core inflation inched up from February’s 3.1% to 3.2% in March.

LatinFocus Consensus Forecast participants expect that inflation will close 2015 at 3.4%, which is up 0.2 percentage points from last month’s forecast. For 2016, the panel expects inflation to end the year at 3.0%.


Author: Teresa Kersting, Economist

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Colombia Inflation Chart


Colombia Inflation March 2015

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


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