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The annual variation of inflation, at the end of September, stood at 1.97 percent and continues below the target range of between 2 and 4 percent of the Banco de la República. and 1.85 points less than the record for the same period of 2019.
That means that prices in the country have risen, during the last 12 months, 1.97 percent. (In context: ‘Inflation registered negative behavior in August’)
Although annual inflation was slightly higher than that observed in August (1.88 percent), “it is well below the annual inflation that we reported for December 2019,” explained the Dane director, Juan Daniel Oviedo.
According to the official, the monthly behavior of the Total Consumer Price Index (CPI) last month (0.32 percent compared to last August) it is mainly explained by the monthly variation observed by the divisions of accommodation, water, electricity, gas and other fuels and information and communication.
Indeed, the highest variations were presented in information and communication, with 2.55 percent; transportation, with 0.83 percent, and accommodation, water, electricity and gas, with 0.51 percent.
The education division reported a monthly variation of –2.77 percent (the most significant drop). The biggest price reductions came from the subclasses enrollment and enrollment in technical, technological and university careers, with –7.47 percent; non-formal education courses, with –4.13 percent, and postgraduate enrollment and enrollment, with –3.78 percent.
Regarding the food and non-alcoholic beverages division, this registered a monthly variation of -0.04 percent, the second lowest monthly variation being. In September the biggest price decreases Tree tomato (-9.63 percent), potatoes (-8.25 percent) and onion (-6.34 percent) were reported in the subclasses.
The biggest price increases Tomato (15.03 percent), fresh vegetables and legumes (5.58 percent) and fresh fruits (2.98 percent) were recorded in the subclasses.
(Read also: How much money do Colombians earn by ballot, lotteries and chance?)
Between January and September 2020, the variation of the Total CPI was 1.44%. This variation was -1.82 higher than that reported in the same period of the previous year, when it was 3.26 percent.
The year-to-date performance of the total CPI in September 2020 (1.44 percent) was mainly explained by the year-to-date variation of the food and non-alcoholic beverages and accommodation, water, electricity, gas and other fuels divisions.
ECONOMY AND BUSINESS
