The National Administrative Department of Statistics (Dane) announced that annual inflation in Colombia for February 2023 was 13.28%.
This figure represents a significant increase of 5.27 percentage points compared to the same month last year, when inflation was registered at 8.01%.
According to the Dane report, the monthly variation of the consumer price index in February 2023 was 1.66%, driven mainly by the variation in the Food and Non-Alcoholic Beverages and Education divisions. In particular, the Education division registered the highest monthly variation of 8.50%.
Regarding the cities, Cúcuta presented the greatest increase in the consumer price index with 16.12%, followed by Sincelejo with 14.97% and Valledupar with 14.56%. On the other hand, Pereira had the smallest increase with 12.41%, followed by Villavicencio with 12.72% and Ibagué with 12.94%.
Regarding the information shared by Dane, President Gustavo Petro said: “Inflation has reached the ceiling in January and the slowdown has begun. It is highly important that food is no longer what marks inflation. A further decline in the price increase is possible for the coming month.”