Colombia’s inflation fell by 0.03% for the month of August as measured by the Consumer Price Index, according to a report published by the National Statistics Agency, DANE, on Monday.
The sectors which registered decreases in prices were clothing (0.01%), communication (0.09%), food (0.19%) and leisure (3.20%). In contrast, the sectors which saw increases in prices were housing (0.27%), transport (0.16%), education (0.09%), health (0.05%), and other expenses (0.09%).
In total, all the goods and services that make up the Colombian basket of goods rose by 2.64% during the course of 2011 and over the past 12 months increased by 3.27%.
The capital of the department of Nariño registered the biggest positive variation in prices with 0.39% and Bogota registered the greatest negative variation with -0.20%.
Maria Mercedes Cuellar, the president of the association which represents Colombia’s financial sector (Asobancaria) said by the end of the year Colombia’s inflation would be within the central bank’s target range of 2%-4% and that inflation is under control, reported Caracol Radio.