Inflation in Colombia has reached all-time highs, despite the fact that its growth rate began to slow in February. The results of the Consumer Price Index (CPI), which showed an annual variation of 13.28%, the highest figure since the beginning of 1999.
(Read: Inflation: how much did prices slow down in the lower strata).
These results show that the behavior of inflation does not reach a ceiling and continues to rise, month by month, although with a more moderate growth. In January the figure was 13.25%.
Faced with this problem, consumers have shown their constant dissatisfaction with the high prices of certain products. However, there are some items that rise more than others and are the ones that end up driving inflation.
What are substitute goods
Faced with this problem, there are substitute goods. These are all those who can satisfy the same need as another product but at a lower price or with other features. For example, sugar and honey.
(See: Tips to stretch your salary in times of rising prices).
In this case, it applies to exchange those goods that register high prices for others that fulfill the same function, such as other types of protein if the meat is expensive, and are at a lower price.
The foods that have risen the most in price
In the case of February, the items that The most driving increases are food and non-alcoholic beverages. Followed by furniture and items for the home, restaurants and hotels, and public services.
In the field of food, the products that rose the most in price were: arracacha, yams and other tubers, onions and plantains. For example, Potato could be a substitute good since it had a decrease in its cost in the last month.
(Read: Has inflation peaked? Analysts see that the pressures persist).
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