Colombia Inflation

Colombia

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%.

LatinFocus Consensus Forecast participants expect that inflation will close 2014 at 3.3%, which is unchanged from last month’s forecast. For 2015, the panel expects inflation to end the year at 3.1%, which is also unchanged from last month’s estimate.


Author: Teresa Kersting, Economist

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Colombia Inflation Chart


Colombia Inflation October 2014

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


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