The annual inflation rate as of February 2023 was 13.28% in Colombia, which is 5.01 percentage points higher than in the same period of the previous year, when it stood at 8.01%.
According to the National Administrative Department of Statistics (Dane), based on Consumer Price Index (CPI) results, this is the highest cost of living in the century, with an indicator not seen since March 1999, when it marked a 13.51%.
The behavior of the annual CPI through February was driven by the increase in the prices of food and non-alcoholic beverages, restaurant and hotel services, housewares, transportation, and goods and services, all above the year-over-year variation.
Dane’s deputy director, Leonardo Trujillo, indicated that the annual variation of the CPI to February in the food item was 24.14%, contributing 4.40 percentage points to the indicator.
In geographic domains, Cúcuta remains the city with the highest annual inflation rate at 16.12%, and the one with the least variation was Pereira at 12.41%. Barranquilla presented an annual indicator of 13.90%, above the national variation.
monthly variation
The Dane revealed that monthly inflation stood at 1.66% at the end of February.
In the case of February, the item with the largest monthly variation was education at 8.50%, followed by household items (2.04%), and transportation at third place at 1.99%.
“There is a very important part in all schools that are Calendar A, and everything related to enrollment in the preschool, primary, secondary and university sectors,” explains Dane’s deputy principal.
By city, the city with the highest monthly inflation was Tunja at 2.12% and the city with the lowest indicator was Sincelejo at 1%. In the case of Barranquilla de monthly inflation February reached 1.72%.
energy rates
In the specific case of energy tariffs, the leader of the Dane He stated that the annual variation of electricity services was 19.51%.
“We noticed that they have started to regulate the values in the electricity service,” says Trujillo.
The analysis per city shows that there are four capitals of the year in the annual variation Caribbean coast those that topped the list of cities with the highest percentage of energy service electricity, being Sincelejo the one with the highest annual variation at 36.58%. Barranquilla presented an annual indicator of 18.51%, below the national annual variation.
Source: El heraldo
Roy Brown is a renowned economist and author at The Nation View. He has a deep understanding of the global economy and its intricacies. He writes about a wide range of economic topics, including monetary policy, fiscal policy, international trade, and labor markets.
