The poorest Colombians experienced an increase in prices of 4.35% in 2011, higher than the annual increase in the Consumer Price Index of 3.73%.
According to financial publication Portafolio, Colombia’s low income earners experienced a greater increase in prices than other income groups.
Middle income earners experienced a 3.63% increase, close the average, while prices for the high income earners went up by less than the average, 2.7%, throughout 2011.
Colombia’s statistics agency DANE announced that prices in December rose by 0.42%. Food, education and housing were the groups which had above average price increases during the year
They had a positive increase of 5.27%, 4.57% and 3.78% respectively. Health, communication, transport, other costs, and clothing had less than average increases in prices.
The only group which of goods and services which decreased was leisure and entertainment with a negative value of 0.32%. Of the 24 cities analyzed by DANE, Bucaramanga, the capital of Norte de Santander department, experienced the highest inflation with 5.75%.
However Pasto, the capital of Narño department, had the smallest increase in prices with 2.41%.
On December 15, the legal minimum wage was increased by 5.8% for 2011 and now stands at $328.