In January 2022the variation of the Consumer Price Index (CPI) was 1.67% Y that of the twelve months was 6.94%. This was announced this Saturday by the National Administrative Department of Statistics (Dane) when delivering the results on the general increase in prices in Colombia.
According to the statistical entity, the inflation of January 2022 it was highest than that of the first month of 2021, which was 1.26 percentage points lower, that is, at 0.41%. With regards to the annual figure (6.94%)the increase was significantly higherthat is, 5.34 percentage points higher than that reported in the same period
of the previous year, when it was 1.60%.
Annual inflation in January was above market expectations who estimated a figure around 6.1% or 6.2%, and well above the figure for January 2021, which stood at 1.6%, this as a result of the effects of the pandemic during the year 2020.
MONTHLY BEHAVIOR
The Dane revealed that the monthly behavior of the Total CPI in January 2022 was 1.67% . The greatest variations occurred in the items of Clothing and footwear (4.03%)this as a result of the normalization in prices after the days without VAT in the last three months, and Food and non-alcoholic beverages (3.79%), followed by goods and services for the home and conservation (2. 93%), restaurants and hotels (2.40%) and transportation (1.85%).
For its part, the Education division did not register any variation.
The Information and communication division registered a monthly variation of 0.13%, the second lowest monthly variation. In January 2022, the only price increase was registered in the subclass mobile telephony equipment, similar and repair (1.97%).
