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September 5, 2022
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Inflation in Colombia reached 10.84% ​​in its annual variation in August

Inflation in Colombia reached 10.84% ​​in its annual variation in August

The Dane announced this Monday that the annual variation of inflation in August was 10.84%, while for the reference month it was 1.02%. For its part, the variation for the year to date (January – August) was 9.06%.

According to the report, the annual variation of the CPI (10.84%) was 6.40 percentage points higher than that reported in the same period of the previous year, when it was 4.44%. In addition, the figure also exceeded the annual variation to July, when the CPI stood at 10.21%.

According to Dane, the monthly behavior of the total CPI in August 2022 (1.02%) was mainly explained by the rise in the monthly variation of the divisions Food and non-alcoholic beverages (1.85%) and Accommodation, water, electricity, gas and other fuels.

In food, the greatest price increases were registered in the subclasses of onion (11.70%), arracacha, yams and other tubers (11.30%) and sugar and other sweeteners (6.84%). On the other hand, the greatest price decreases were reported in the potato (-9.31%), blackberry (-2.60%) and carrot (-1.76%) subclasses.

As for the Goods and services division, a monthly variation of 1.54% was registered, the second with the highest increase in August 2022.

The most significant increases in this subclass were vehicle insurance and others related to transportation (5.05%), personal hygiene items (2.62%) and various personal items (2.15%). In this division, four subclasses did not present variation, these correspond to certificates; administrative documents and payment of fees, auxiliary and financial services provided in exchange for an explicit commission; medical, accident and prepaid medicine insurance and, finally, moderating quotas to EPS.

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