The National Administrative Department of Statistics (Dane) announced a change in the release date of the Consumer Price Index (CPI). As confirmed by the director of the entity, Piedad Urdinonala, hereinafter the data will not be disclosed on the fifth calendar day, but on the fifth business day of the month.
This change will take effect from the month of June 2023. In addition, he informed that it will no longer be published at 6:00 am, but at 6:00 pm.
(Also read: Interview with Piedad Urdinola: ‘Dane’s challenge is technological transformation’.)
Urdinola clarified that despite the change in relation to the dissemination of the data, there is no change in other phases of the statistical production chain of the indicatorsuch as the collection, analysis or processing of data. “Absolutely nothing changes in the process of building the consumer price index, it will only be an adjustment to the date of dissemination“, said.
The official reiterated that this decision is made based on an analysis of international methodologies and online with the applications of other countries.
According to Urdinola, within the recommendations of the CPI manual of the International Monetary Fund, the entity that gives guidelines on international methodologies in this area, the IPS estimates “They are released as soon as possible, usually around 10 days after the end of the last month or quarter.”
(Also read: Annual variation of inflation reached 13.28% in February.)
The Dane director also mentioned how in other OECD countries a disclosure date is defined, but not necessarily the time, and that after evaluating the statistical production of Colombia, the change in concordance with the parameters of other OECD countries was determined to guarantee coverage, quality and timeliness of the CPI, and also in compliance with working hours policies.
LAURA LUCIA BECERRA ELEJALDE
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