Colombia: Inflation steady in September
October 4, 2013
In September, consumer prices rose 0.29% over the previous month, following the negligible 0.08% rise registered in August. The increase in September was above the 0.18% rise LatinFocus panelists had expected and mainly reflected higher prices for housing, food and healthcare. Annual inflation was stable at August's 2.3%.
The core inflation index, which excludes volatile items such as fresh food and fuels, rose 0.20% month-on-month in September (August: -0.02% mom). Annual core inflation was steady at August's 2.8%, thus remaining well anchored within the Central Bank's tolerance margin of plus/minus 1.0 percentage-points around its 3.0% target.
The government sees inflation at 3.0% in 2013. LatinFocus Consensus Forecast participants expect that inflation will close the year at 2.6%, which is unchanged from last month's forecast. For next year, the panel expects inflation to end the year at 3.1%, which is also unchanged over the previous month's estimate.