Inflation & Prices
Colombia Inflation Jumps More Than Forecast to Highest Since 1999
- Annual inflation rate rose to 12.53% in November, led by food
- Result pressures central bank to extend tightening cycle
A tractor loads sugarcane into a transportation container during a harvest in Obando, Department of Valle del Cauca, Colombia, on Wednesday, Aug. 3, 2022.
Photographer: Jair F. Coll/BloombergThis article is for subscribers only.
Colombia’s inflation accelerated more than expected in November, to near a 24-year high, maintaining pressure on the central bank to extend its steepest-ever tightening cycle.
Consumer prices rose 12.53% in November from the same month a year ago, the fastest pace since March 1999, the statistics agency reported Monday. That compares to a 12.35% median estimate of economists surveyed by Bloomberg.