Key facts
- Colombia's annual inflation rate reached 6.24% in August.
- The August inflation figure exceeded the median forecast of 6.10% from Reuters-polled analysts.
- Monthly price increases in Colombia were primarily driven by recreation and culture, information and communication, and food and non-alcoholic beverages.
- Chile's consumer prices rose 0.6% in August from the previous month, surpassing the predicted 0.3% increase.
- Chile's annual inflation accelerated to 4.1% in August from 3.5% in July.
Colombia's annual inflation rate rose to 6.24% in August, exceeding the 6.10% median forecast from analysts and the central bank's target range of 3% plus or minus one percentage point. The monthly inflation figure also surpassed expectations, driven primarily by increases in recreation and culture, information and communication, and food and non-alcoholic beverages. Conversely, prices for clothing and footwear saw a slight decrease. The nation's economy is contending with worsening fiscal accounts due to declining revenues and increased spending.
Meanwhile, consumer prices in Chile rose 0.6% in August from the previous month, exceeding the 0.3% prediction by economists. Notable increases were seen in food and non-alcoholic beverages, as well as transportation. Annual inflation in Chile accelerated to 4.1% from 3.5% in July, surpassing the central bank's 2% to 4% target range.