This was determined by the National Administrative Office of Statistics (Dane) using the Consumer Price Index (CPI) results for the month of March. (Resume)
The annual inflation rate as of March 2023 was 13.34% in Colombia, which is 4.78 percentage points higher than in the same period of the previous year, when it stood at 8.53%.
According to the National Administrative Service for Statistics (Danish), the results of the Consumer Price Index (CPI), it is the highest cost of living in the century, with an indicator not seen since March 1999, when it stood at 13.51%.
The behavior of the annual CPI through March 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 director, Piedad Urdinola, indicated in her speech that the annual variation of the CPI to March in the food item was 21.81%, contributing 4.05 percentage points to the indicator. However, he insisted there is a lag in their pricing.
Faced with the indicators, Urdinola maintained that this variation was close to economic analyst projections and the Bank of the Republic’s evaluation.
In geographic domains, Cúcuta remains the city with the highest annual inflation rate at 15.38%, and the one with the least variation was other urban areas at 12.07%. Barranquilla presented an annual indicator of 13.99%, above the national variation.
monthly variation
The Dane revealed that monthly inflation stood at 1.05% at the end of March.
In the case of March, the item with the highest monthly variation was miscellaneous goods and services at 1.62%, followed by household goods (1.47%) and health at third place at 1.41%.
By city Popayán was the city with the highest monthly inflation rate at 1.43% and the one with the lowest indicator was Sincelejo at 0.69%. In the case of Barranquilla, monthly inflation for February was 1.10%.
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.
