This December 5, Dane revealed the country’s inflation data for November. In this case, the monthly variation was 0.77%. Inflation so far in 2022 reaches 11.72% compared to 4.86% in 2021.
Likewise, the vannual variation is 12.53% compared to 5.26% in 2021.
She is serious the highest annual inflation in 23 years. The last time this index was presented was in March 1999. The CPI also went from 12.22% in October to 12.53% in November in its annual variation.
The market, for its part, projected a variation of 12.22% and 12.29%. In other words, the real data exceeded the analysts’ projections.
Food and non-alcoholic beverages continue to be the item that weighs the most on the CPI, with a variation of 0.21% for November. That is, three percentage points more than in October.
Food was the one that marked the data for November, after ttransport, restaurants and hotels (1.50%). Then follow goods and services. Regarding the annual data, food and non-alcoholic beverages had a contribution of 4.60%, after accommodation, water, electricity and gas with 2.24%.
Among the foods that increase its price the most is the potato. Regarding public services, by November electricity has started to drop.
Regarding the cities among those with the most high inflation in November, cucuta it continues to be the one with the highest monthly variation of the CPI. After Pasto, Riohacha and Armenia. Those that least are Tunja, Santa Marta and Popayán.
Regarding the annual variation, below the national total of the CPI are Manizales and Bogotá. The rest of the cities are above average. Cúcuta consolidates as the city with the highest inflation in the countrythen Riohacha, Valledupar and Santa Marta.
“As inflation rises, income deferences for socioeconomic groups increase,” said Piedad Urdinola, director of Dane.
The Poor households already reach an annual inflation of 14.34%, the vulnerable 14.17%, middle class 12.69% and high-income families 10.97%. The gap has been widening so far this year.
Colombia is currently presenting a variation of the CPI similar to Chile, Brazil and Mexico. Since the covid-19 pandemic, this upward trend has been present in these countries. In the case of Brazil, it already doubles its rate compared to 2019.