Colombia | Inflation moderately increased in February, reaching 5.3%

Summary

Monthly inflation in February was 1.14%, while annual inflation stood at 5.28%. This result exceeded market analysts' expectations, as the Banco de la República survey had anticipated a monthly variation of 0.98%.

Key points

• Key points:
• Annual food inflation recorded a slight increase of 6 basis points (bps) from the previous month, reaching 4.6%.
• Annual core inflation (excluding food) registered a slight increase of 5 bps in February, reaching 5.4%.
• Among the components of core inflation, the administered prices basket led the increase in February, rising from 6.6% in January to 7.2% in February, an increase of 57 bps.
• The goods basket recorded a slight increase, rising from 0.6% annual inflation in January to 0.7% in February.
• The annual inflation rate for the services basket declined from 6.8% to 6.6%, primarily due to base effects, representing a 22 bps decrease.

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