LatinNews Daily - 06 January 2022

In brief: Inflation rises in Colombia

* Colombia’s national statistics department (Dane) has released the latest figures for the consumer price index (IPC), showing that inflation increased by 0.73% in December compared to the previous month. In year-on-year terms, inflation was up 5.62% on December 2020. Dane stated that inflation in December was principally driven by price increases for food and non-alcoholic drinks (+17.23% year-on-year) and restaurants and hotels (+8.83%). The two categories that saw annual deflation in December were information and communication (-12.1%) and clothing and shoes (-2.6%). The 5.62% annual inflation rate was the highest in Colombia since 2016, and was significantly above the central bank (BCR)’s target rate of 3%.

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