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The National Administrative Department of Statistics (Dane) announced that the cost of living for Colombians varied by -0.06% during the past month.
With the above, the indicator returns to negative behavior, after the 0.32% that occurred in September. And it returns to the negative trend that had been present since May, when it changed negatively by 0.32%. In June inflation was -0.38%; July reported 0.0%; and in August the cost of living contracted by 0.01%.
According to Dane data, in October last year inflation was 0.16%.
In this way, inflation so far in 2020 reaches 1.38% (3.43% was a year ago), while the annualized result is 1.75%, equivalent to levels of November 2013 (this variation was 3.86% was in 2019).
Also read: Inflation in Colombia in September was positive again after four months
For now, the indicator in the first 10 months of the year is still far from the target range of the Banco de la República, which he recently updated and now expects to be closer to 2% (1.9% as the center point) by the end of 2020.
Juan Daniel Oviedo, director of Dane, confirmed that the Consumer Price Index (CPI) for October is considerably different from analysts’ expectations of the Colombian market, They expected a minimum monthly variation of 0.06% and a maximum of 0.25%.
For the rest, Oviedo added, the sectors that weighed the most in the variation in the cost of living of Colombians for October were: transportation, with 0.90%; followed by restaurants and hotels, with 0.23%; and alcoholic beverages and tobacco, with 0.12%.
Oviedo added that the fact that these are the segments that grow the most in monthly behavior It is explained, among other reasons, by the flexibility of measures that allow a normalization of some relevant economic activities.
Of the 12 activities measured by the Dane, six presented negative variations: education, with 2.48%; food and non-alcoholic beverages, 0.32%; and miscellaneous goods and services, with 0.21%, were the most representative.
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