Colombia: Inflation rises to over two-year high
November 5, 2014
In October, consumer prices rose 0.16% over the previous month, which came in above the 0.14% price increase registered in September and market analysts’ expectations of a 0.05% rise. October’s reading mainly reflected higher prices for housing, and transport.
Annual inflation jumped from 2.9% in September to 3.3% in October, reaching the highest level since May 2012. As a result, inflation remains well anchored within 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 0.16% month-on-month in October (September: +0.12% mom). Annual core inflation inched up from September’s 2.9% to 3.0%.