Inflation in Colombia has not yet found a ceiling and in November it rose to 12.53%

The National Administrative Department of Statistics (Dane) has just revealed that inflation in Colombia continued to climb during November and stood at 12.53% in its measurement of the last 12 months.

According to Piedad Urdinola, director of Dane, the variation for November alone was 0.77% and the measurement for the period from 2022 to the eleventh month was 11.72%.

The official explained that food and non-alcoholic beverages continue to be the group that pushes prices up the most in the country. During November they increased 1.50%.

The highest price increases were registered in the subclasses: arracacha, yams and other tubers (101.16%), cassava for home consumption (97.24%) and onion (76.92%). The lowest price increases were reported in the subclasses: raw brown sugar for home consumption (3.44%), tomato (4.59%) and concentrates to prepare soft drinks (7.91%).

Likewise, the director explained that prices were also boosted by the increase in transport with an increase of 1.35% and restaurants and hotels with an increase of 1.18%.

According to Urdinola, inflation observed in Colombia is the highest since March 1999. Monthly inflation in November was higher than expected by the market.

The other groups behaved as follows: alcoholic beverages and tobacco (1.05%), various goods and services (0.96%), recreation and culture (0.96%) and, finally, furniture, household items and for ordinary household maintenance (0.78%).

Below the monthly average were health (0.61%), clothing and footwear (0.32%), accommodation, water, electricity, gas and other fuels (0.11%), information and communication (0. 05%) and, finally, the education division does not show any variation.

So far this year the price of food increased by 24.49%, these being the ones that became more expensive in 2022.

Urdinola explained that in November 2022, the monthly variation of the CPI by income level was: poor (0.87%), vulnerable (0.85%), middle class (0.76%), high income (0.73 %) and, finally, total income level (0.77%).

So far this year, the CPI variation by income level was: poor (13.26%), vulnerable (13.12%), middle class (11.85%), high income (10.39%) and , finally, total income level (11.72%).

The annual variation of the CPI by income level was: poor (14.34%), vulnerable (14.17%), middle class (12.69%), high income (10.97%) and, finally, total income level (12.53%).

With information from Bloomberg Línea