World Economy

Colombia CPI Rises

Colombia CPI RisesColombia CPI Rises

Colombia’s February consumer price index rose 1.28% month on month, below market expectations, FXStreet reported. The increase took the annual inflation rate to 7.6%, slightly above the previous reading of 7.5%. After several months of upward acceleration, food and tradable prices showed a setback and their figure in February was lower than in the previous month. The two factors that boosted inflation in recent months, the devaluation of the exchange rate and El Nino, are withering and will help CPI not to accelerate in the rest of the year. This, coupled with the weakening of the labor market that appeared in January, will help inflation to converge to its target.