Colombia's September inflation above market view at 0.29 pct

Reuters

BOGOTA, Oct 5 (Reuters) - Colombia's consumer priceinflation in September was 0.29 percent, unchanged from the samemonth a year ago, the government said on Saturday.

The increase, driven mainly by housing, food and healthcare costs, was higher than market expectations. A Reuters survey ofanalysts had predicted inflation for September of 0.16 percent.

The cumulative inflation rate from January through Septemberwas 2.16 percent, down from 2.32 percent in the same period of2012. Twelve-month inflation through September was 2.27 percentversus 3.08 percent in the prior 12-month period.

Housing costs increased 0.49 percent in September and food,which has a nearly 30 percent weighting in the calculation ofconsumer price inflation, rose 0.38 percent while healthcarecosts rose 0.31 percent.

Education-related costs rose 0.14 percent, entertainment by0.11 percent and clothing 0.01 percent. Communications costsfell overall by 0.04 percent.

Colombia's inflation rate for calendar 2012 was 2.44percent, close to the lower end of the central bank's targetrange of between 2 and 4 percent, which has remained the samefor 2013.

Relatively low inflation has enabled the bank to lop 200basis points off the benchmark interest rate since July lastyear, then hold it at 3.25 percent for six straight months sofar.

View Comments (0)