"The inflation rate is a measure of changing prices, typically calculated on a month-to-month and year-to-year basis andexpressed as a percentage". (Dictionary of Financial Terms, 2008)

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Colombia's consumer prices went up 5.47 percent year-on-year in January of 2017, following a 5.75 percent rise in December. The inflation rate eased for the sixth straight month to the lowest since September of 2015 as cost increased at a slower pace for food (5.97 percent vs 7.22 percent in December), education (6.30 percent vs 6.34 percent) and clothing (3.61 percent vs 3.98 percent). Meantime, prices rose faster for housing (4.91 percent vs 4.83 percent) and transport (4.70 percent vs 4.47 percent). 

 

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